Published on 9/26/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $515,000 contingent coupon callable yield notes on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – Credit Suisse AG, London Branch priced $515,000 of contingent coupon callable yield notes due June 27, 2022 linked to the lest performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at an annualized rate of 7.3% if each index closes at or above its coupon barrier, 70% of its initial level, on the related quarterly observation date.
The notes may be called in whole, but not in part, at par on any contingent coupon payment date six months.
The payout at maturity will be par unless any index finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses 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, S&P 500 and Russell 2000
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Amount: | $515,000
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Maturity: | June 27, 2022
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Coupon: | 7.3% per year, payable quarterly if each index closes at or above its coupon barrier on related quarterly observation date
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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 any losses of the least-performing index
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Call option: | In whole at par on any contingent coupon payment date after six months
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Initial levels: | 3,430.81 for Stoxx, 2,929.67 for S&P and 1,712.316 for Russell
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Barrier levels: | 2,401.567 for Stoxx, 2,050.769 for S&P and 1,198.6212 for Russell; 70% of initial levels
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Knock-in levels: | 2,401.567 for Stoxx, 2,050.769 for S&P and 1,198.6212 for Russell; 70% of initial levels
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Pricing date: | Sept. 21
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Settlement date: | Sept. 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.95%
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Cusip: | 22551LBK5
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