Published on 6/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.23 million contingent coupon callable notes on three indexes
By Marisa Wong
Morgantown, W.Va., June 6 – Credit Suisse AG, London Branch priced $2.23 million of contingent coupon callable yield notes due May 17, 2024 linked to the least 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 annualized rate of 8.75% if each underlying asset closes at or above its coupon barrier level, 65% of its initial level, on the related quarterly observation date.
The notes are callable in whole at par on any quarterly call date.
The payout at maturity will be par unless any asset finishes below its 60% knock-in level, in which case investors will be fully exposed to the decline of the the least-performing asset.
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 assets: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $2.23 million
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| Maturity: | May 17, 2024
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| Coupon: | 8.75% per year, payable quarterly if each underlying asset 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 asset finishes below its knock-in level, in which case full exposure to any losses of the least-performing asset
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| Call option: | At par on any quarterly call date
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| Initial values: | 2,881.40 for S&P, 1,572.993 for Russell, 3,361.05 for Euro Stoxx
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| Coupon barriers: | 1,872.91 for S&P, 1,022.44545 for Russell, 2,184.6825 for Euro Stoxx; 65% of initial levels
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| Knock-in values: | 1,728.84 for S&P, 943.7958 for Russell, 2,016.63 for Euro Stoxx; 60% of initial values
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| Pricing date: | May 10
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| Settlement date: | May 15
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22552FFD9
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