Published on 5/15/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.19 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 15 – Credit Suisse AG, London Branch priced $3.19 million of contingent coupon callable yield notes due May 18, 2020 linked to the lowest performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6.45% if each index closes at or above its barrier level, 60% of its initial level, on a quarterly observation date.
The notes will be callable at par on any quarterly call date beginning Aug. 16, 2017.
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 least-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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| Amount: | $3,193,000
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| Maturity: | May 18, 2020
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| Coupon: | 6.45% per year, payable quarterly 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 knock-in level, in which case full exposure to any losses of the least-performing index
|
| Call option: | At par on any quarterly call date beginning Aug. 16, 2017
|
| Initial levels: | 20,919.42 for Dow, 1,390.96 for Russell, 2,394.44 for S&P
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| Barrier/knock-in levels: | 12,551.652 for Dow, 834.1176 for Russell, 1,436.664 for S&P; 60% of initial levels
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.56%
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| Cusip: | 22550B4J9
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