Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.63 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 1 – Credit Suisse AG, London Branch priced $1.63 million of contingent coupon callable yield notes due April 30, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6.5% if each index closes at or above its barrier level, 60% of its initial level, on a related observation date.
The notes will be callable at par on any observation date after six months.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.
Incapital LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,625,000
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Maturity: | April 30, 2025
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Coupon: | 6.5% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its knock-in, in which case full exposure to any losses of the lesser-performing index
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Call option: | Callable at par on any observation date after six months
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Initial levels: | 2,639.40 for S&P and 1,550.467 for Russell
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Coupon barrier levels: | 1,583.64 for S&P and 930.2802 for Russell; 60% of initial levels
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Knock-in levels: | 1,583.64 for S&P and 930.2802 for Russell; 60% of initial levels
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Incapital LLC
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Fees: | 4%
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Cusip: | 22550WNQ6
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