Published on 4/5/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $66,000 6.25% contingent coupon callables tied to three indexes
By Susanna Moon
Chicago, April 5 – Credit Suisse AG, London Branch priced $66,000 of contingent coupon callable yield notes due April 4, 2023 linked to the lesser 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 contingent quarterly coupon at an annual rate of 6.25% if each index closes at or above its 50% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless any index closes below its 50% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
| 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: | $66,000
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| Maturity: | April 4, 2023
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| Coupon: | 6.25% annualized, payable quarterly if each index closes at or above 50% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below 50% knock-in level, in which case 1% loss per 1% decline of worst performing index
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| Call option: | At par on any interest payment date beginning April 4, 2019
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| Initial levels: | 2,605.00 for S&P, 1,513.031 for Russell and 3,331.25 for Stoxx
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| Trigger levels: | 1,302.50 for S&P, 756.5155 | for Russell and 1,665.625 for Stoxx; 50% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 2
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.125%
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| Cusip: | 22550WGQ4
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