Published on 7/11/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5 million contingent coupon callable yield notes on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, July 11 – Credit Suisse AG, London Branch priced $5 million of contingent coupon callable yield notes due June 29, 2021 linked to the lest performing of the Dow Jones Industrial Average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon at an annualized rate of 9.25%, payable monthly, if each index closes at or above its coupon barrier level, 75% of its initial level, on a 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 any index finishes below its initial level and ever closes 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: | Dow Jones Industrial Average and Nasdaq-100
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| Amount: | $5 million
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| Maturity: | June 29, 2021
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| Coupon: | 9.25% per year, payable monthly if each index closes at or above its barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and ever closes below knock-in level, in which case full exposure to any losses of the least-performing index
|
| Call: | Notes may be called at par on any contingent coupon payment date
|
| Initial levels: | 24,580.89 for Dow and 7,197.512 for Nasdaq
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| Coupon barriers: | 18,435.6675 for Dow and 5,398.134 for Nasdaq; 75% of initial levels
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| Knock-in levels: | 17,206.623 for Dow and 5,038.2584 for Nasdaq; 70% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22550WZ75
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