Published on 10/28/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon callable yield notes due Oct. 31, 2022 linked to the lowest performing of the Euro Stoxx 50 index, the Russell 2000 index and the Nasdaq-100 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% if each index closes at or at or above its coupon barrier level, 80% of its initial level, on a related observation date.
The notes may be called, in whole but not in part, at par plus any coupon on any quarterly early redemption date after six months.
The payout at maturity will be par unless any index closes below its 80% knock-in level, in which case investors will fully participate in the return of 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, Russell 2000 and Nasdaq-100
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| Amount: | $500,000
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| Maturity: | Oct. 31, 2022
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| Coupon: | 10% per year, payable quarterly if each index closes at or 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 closes below its 80% knock-in level, in which case investors will fully participate in the return of least-performing index
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| Call: | At par plus any coupon on any quarterly redemption date after six monts
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| Initial levels: | 3,621.37 for Stoxx, 1,550.8 for Russell and 7,966.719 for Nasdaq
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| Coupon barrier levels: | 2,897.096 for Stoxx, 1,240.144 for Russell and 6,373.3752 for Nasdaq, 80% of initial levels
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| Knock-in levels: | 2,897.096 for Stoxx, 1,240.144 for Russell and 6,373.3752 for Nasdaq, 80% of initial levels
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5% Cusip: | 22551N4N3
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