Published on 1/29/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.83 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – Credit Suisse AG, London Branch priced $1.83 million of contingent coupon callable yield notes due Feb 1, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon of 9.35% per year unless any index closes below its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing index.
Beginning Aug. 1, 2016, the notes will be callable at par on any interest payment date.
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: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $1.83 million
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| Maturity: | Feb. 1, 2019
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 9.35% per year unless any index closes below barrier level on observation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to decline of least-performing index
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| Call option: | At par on any interest payment date beginning Aug. 1, 2016
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| Initial levels: | 1,002.747 for Russell, 1,882.95for S&P, 3,043.47 for Euro Stoxx
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| Barrier/knock-in levels: | 601.6482 for Russell, 1,129.77for S&P, 1,826.082 for Euro Stoxx; 60% of initial levels
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22546VVT0
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