Published on 8/24/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.97 million contingent coupon notes on Russell, Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Aug. 24 – Credit Suisse AG, London Branch priced $1.97 million of contingent coupon callable yield notes due Aug. 26, 2019 linked to the worse performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each semiannual period, the notes will pay a contingent coupon at the rate of 9.2% per year unless either index closes below its knock-in level, 70% of its initial level, on the observation date for that semiannual period.
The notes will be callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline 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
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| Underlying indexes: | Russell 2000, Euro Stoxx 50
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| Amount: | $1,968,000
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| Maturity: | Aug. 26, 2019
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| Coupon: | 9.2% per year, payable semiannually if both indexes close at or above coupon barrier levels during that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline of the lesser-performing index
|
| Call option: | At par on any interest payment date
|
| Initial level: | 2,968.20 for Euro Stoxx, 1,236.769 for Russell 2000
|
| Barrier/knock-in level: | 2,077.74 for Euro Stoxx, 865.7383 for the Russell 2000; 70% of initial levels
|
| Pricing date: | Aug. 19
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| Settlement date: | Aug. 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.3%
|
| Cusip: | 22548QDN2
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