Published on 3/4/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $944,000 contingent coupon callable yield notes on S&P, Russell, Dow
Chicago, March 4 – Credit Suisse AG, London Branch priced $944,000 of contingent coupon callable yield notes due March 3, 2025 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at an annualized rate of 10% plus any prior unpaid coupons if each index closes at or above its coupon barrier, 75% of its initial level, on the related observation date.
The notes may be called 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 75% knock-in level, in which case investors will be fully exposed to any losses of the lowest-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and the Dow Jones Industrial Average
|
| Amount: | $944,000
|
| Maturity: | March 3, 2025
|
| Coupon: | 10% per year, payable semiannually if each index closes at or above its coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to any losses of the least-performing index
|
| Call option: | In whole at par on any contingent coupon payment date
|
| Initial levels: | 2792.67 for S&P, 1590.062 for Russell and 26031.81 for Dow Jones
|
| Barrier levels: | 2094.5025 for S&P, 1192.5465 for Russell and 19523.8575 for Dow Jones; 75% of initial levels
|
| Knock-in levels: | 2094.5025 for S&P, 1192.5465 for Russell and 19523.8575 for Dow Jones; 75% of initial levels
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22551LXF2
|
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