Published on 5/25/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.54 million contingent coupon callable yield notes on indexes
By Tali Rackner
Minneapolis, May 25 – Credit Suisse AG, London Branch priced $3.54 million of contingent coupon callable yield notes due May 25, 2021 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 semiannually, if each index closes at or above its coupon barrier level, 70% of its initial level, on a related observation date.
The notes may be called in whole, but not in part, at par on any semiannual contingent coupon payment date beginning Nov. 21.
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: | $3,541,000
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| Maturity: | May 25, 2021
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| Coupon: | 8% per year, payable semiannually if each index closes at or above its 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 semiannual contingent coupon payment date beginning Nov. 21
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| Initial levels: | 2,712.97 for S&P, 1,626.629 for Russell
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| Coupon barrier/knock-in levels: | 1,899.079 for S&P, 1,138.6403 for Russell; 70% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 25
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.4%
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| Cusip: | 22550WSH1
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