Published on 6/29/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.91 million contingent coupon callable yield notes on Euro Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, June 29 – Credit Suisse AG, London Branch priced $4.91 million of contingent coupon callable yield notes due June 30, 2020 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 7.5% per year unless either index closes below its knock-in level, 70% of its initial level, on the observation date for that quarter.
Beginning Dec. 29, 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, 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: | $4,906,000
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Maturity: | June 30, 2020
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Coupon: | Each quarter, notes pay contingent coupon at rate of 7.5% per year unless either index closes below knock-in levels 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 Dec. 29, 2017 onward
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Initial index levels: | 3,543.68 for Euro Stoxx 50 and 1,414.778 for Russell 2000
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Knock-in levels: | 2,480.576 for Euro Stoxx 50 and 990.3446 for Russell 2000; 70% of initial levels
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.85%
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Cusip: | 22550B6Y4
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