Published on 8/27/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.37 million 10% contingent yield trigger callables on three indexes
By Susanna Moon
Chicago, Aug. 27 – Credit Suisse AG, London Branch priced $5.37 million of trigger callable contingent yield notes with daily coupon observation due Feb. 22, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above its 70% coupon barrier on each day during for that quarter.
The notes are callable at par on any quarterly observation date other than the final date.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing index.
UBS Financial Services Inc. is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger callable contingent yield notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $5,373,500
|
| Maturity: | Feb. 22, 2021
|
| Coupon: | 10% annualized, payable quarterly if each index closes at or above 70% coupon barrier on each day during that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss per 1% decline of worst performing index
|
| Call option: | At par on each quarterly observation date other than the final date
|
| Initial levels: | 2,850.13 for S&P, 1,692.947 for Russell and 3,372.94 for Stoxx
|
| Downside thresholds: | 1,995.09 for S&P, 1,185.063 for Russell and 2,361.06 for Stoxx, 70% of initial levels
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 22
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 1.25%
|
| Cusip: | 22549R227
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
