Published on 2/22/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – Credit Suisse AG, London Branch priced $2 million of contingent coupon callable yield notes due Feb. 22, 2019 linked to the lowest performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 13.5% if each index closes at or above its barrier level, 75% of its initial level, on every trading day that quarter.
The notes may be called at par on any quarterly contingent coupon date.
The payout at maturity will be par unless any index finishes below its 75% knock-in level, in which case investors will be fully exposed to the loss of the least-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: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $2 million
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Maturity: | Feb. 22, 2019
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Coupon: | 13.5% per year, payable quarterly if each as index closes at or above its barrier level on every day during the quarter
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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 loss of least-performing index
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Call option: | At par on any quarterly contingent coupon date
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Initial levels: | 1,399.133 for Russell, 2,347.22 for S&P, 3,308.81 for Stoxx
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Barrier/knock-in levels: | 1,049.350 for Russell, 1,760.42 for S&P, 2,841.61 for Stoxx; 75% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.9%
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Cusip: | 22548QVN2
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