Published on 7/6/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.93 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 6 – Credit Suisse AG, London Branch priced $3.93 million of contingent coupon callable yield notes due July 3, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 7.55% per year unless any index closes below its 70% coupon barrier on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing index.
The notes will be callable at par on any interest payment date.
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 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $3,934,000
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Maturity: | July 3, 2019
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Coupon: | 7.55% per year, payable quarterly, unless any index closes below 70% coupon barrier level on observation date for quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless any index finishes below 70% knock-in level, in which case 1% loss for each 1% decline of worst performing index
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Call option: | At par on any interest payment date other than the maturity date
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Initial levels: | 2,440.69 for S&P, 1,425.269 for Russell, 3,535.70 for Euro Stoxx
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Knock-in levels: | 1,708.48 for S&P, 997.688 for Russell, 2,474.99 for Euro Stoxx; 70% of initial levels
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Pricing date: | June 28
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Settlement date: | June 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22550BC43
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