Published on 6/6/2018 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, June 6 – Credit Suisse AG, London Branch priced $2 million of contingent coupon callable yield notes due Dec. 4, 2019 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 10.6% if each index closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
Credit Suisse may call the notes in whole but not in part at par on any quarterly observation 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 any losses 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: | Euro Stoxx 50, S&P 500 and Russell 2000
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| Amount: | $2 million
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| Maturity: | Dec. 4, 2019
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| Coupon: | 10.6% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its knock-in, in which case full exposure to any losses of the least performing index
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| Call option: | Callable at par on any observation date
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| Initial levels: | 3,406.65 for Euro Stoxx 50, 2,724.01 for S&P and 1,647.989 for Russell
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| Coupon barrier levels: | 2,554.99 for Euro Stoxx 50, 2,043.01 for S&P and 1,235.992 for Russell; 75% of initial levels
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| Knock-in levels: | 2,554.99 for Euro Stoxx 50, 2,043.01 for S&P and 1,235.992 for Russell; 75% of initial levels
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| Pricing date: | May 30
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| Settlement date: | June 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22550WWP8
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