Published on 11/22/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.5 million 6% callable yield notes on Stoxx, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – Credit Suisse AG, London Branch priced $1.5 million of 6% callable yield notes due May 29, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its 70% 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
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Issue: | Callable yield notes
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Underlying indexes: | Euro Stoxx 50 and Dow Jones Industrial Average
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Amount: | $1.5 million
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Maturity: | May 29, 2018
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Coupon: | 6% per, payable quarterly
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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
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Initial index levels: | 3,020.83 for Euro Stoxx 50, 18,867.93 for Dow
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Knock-in levels: | 2,114.581 for Euro Stoxx 50, 13,207.551 for Dow; 70% of initial levels
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Pricing date: | Nov. 18
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Settlement date: | Nov. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.85%
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Cusip: | 22548QMD4
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