Published on 6/5/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.21 million contingent coupon callable notes on S&P, Russell
New York, June 5 – Credit Suisse AG, London Branch priced $1.21 million of contingent coupon callable yield notes due June 5, 2023 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 coupon at an annualized rate of 8%, payable quarterly, if each index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
Starting June 5, 2019, Credit Suisse may call the notes in whole, but not in part, at par on any contingent coupon payment date.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) 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: | $1,201,000
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| Maturity: | June 5, 2023
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| Coupon: | 8% 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 level, in which case full exposure to any losses of the lesser performing index
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| Call: | Notes may be called at par on any contingent coupon payment date
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| Initial levels: | 2,705.27 for S&P 500 and 1,633.610 for Russell
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| Coupon barriers/knock-in levels: | 1,893.689 for S&P 500 and 1,143.527 for Russell; 70% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.125%
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| Cusip: | 22550WQP5
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