New Issue: Credit Suisse sells $1.36 million contingent coupon callable yield notes on S&P

By Sarah Lizee

Olympia, Wash., Oct. 23 – Credit Suisse AG, London Branch priced $1.36 million of contingent coupon callable yield notes due Oct. 25, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Every quarter, the notes pay a contingent coupon at the rate of 7.75% per year if the index closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.

The notes may be called, in whole but not in part, at par plus any coupon due on any observation date starting April 27, 2020.

The payout at maturity will be par unless the index finishes below its knock-in level, in which case investors will be exposed to the decline of the index from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon callable yield notes
Underlying index:	S&P 500
Amount:	$1.36 million
Maturity:	Oct. 25, 2022
Coupon:	7.75% per year, payable quarterly if the underlying asset closes at or above its coupon barrier level on observation date
Price:	Par
Payout at maturity:	Par unless index finishes below knock-in level, in which case exposure to decline of index
Call option:	Callable at par plus any coupon due on any observation date starting April 27, 2020
Initial level:	2,986.20
Coupon barrier level:	2,090.34, 70% of initial level
Knock-in level:	2,090.34, 70% of initial level
Pricing date:	Oct. 18
Settlement date:	Oct. 25
Agent:	Credit Suisse Securities (USA) LLC
Fees:	None
Cusip:	22551N3E4

© 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.