Published on 10/17/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.81 million contingent coupon callable yield notes on Euro Stoxx, Russell
By Angela McDaniels
Tacoma, Wash., Oct. 17 – Credit Suisse AG, London Branch priced $2.81 million of contingent coupon callable yield notes due Oct. 19, 2021 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 9.3% per year unless either index closes below its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning Oct. 19, 2017, 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, 60% of its initial 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
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $2,811,000
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Maturity: | Oct. 19, 2021
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Coupon: | Each quarter, notes pay contingent coupon at rate of 9.3% per year unless either index closes below coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of lesser-performing index
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Call option: | At par on any interest payment date from Oct. 19, 2017 onward
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Initial index levels: | 3,025. 19 for Euro Stoxx 50 and 1,212.408 for Russell 2000
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Coupon barriers: | 2,117.633 for Euro Stoxx 50 and 848.6856 for Russell 2000; 70% of initial levels
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Knock-in levels: | 1,815.114 for Euro Stoxx 50 and 727.4448 for Russell 2000; 60% of initial levels
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Pricing date: | Oct. 14
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Settlement date: | Oct. 19
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3%
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Cusip: | 22548QKP9
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