Published on 7/3/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on indexes
By Sarah Lizee
Olympia, Wash., July 3 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon callable yield notes due June 28, 2024 linked to the lowest performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at an annualized rate of 5.25% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.
The notes may be called in whole, but not in part, at par on any quarterly determination date.
The payout at maturity will be par unless any index finishes below its 60% 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
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $500,000
|
| Maturity: | June 28, 2024
|
| Coupon: | 5.25% per year, payable quarterly if each index closes at or above its coupon barrier on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any 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 quarterly determination date
|
| Initial levels: | 2,913.78 for S&P, 1,517.775 for Russell, 7,627.051 for Nasdaq
|
| Coupon barrier levels: | 1,748.268 for S&P, 910.665 for Russell, 4,576.2306 for Nasdaq; 60% of initial levels
|
| Knock-in levels: | 1,748.268 for S&P, 910.665 for Russell, 4,576.2306 for Nasdaq; 60% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 28
|
| Agents: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.95%
|
| Cusip: | 22552FJT0
|
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