Published on 3/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.53 million contingent coupon yield notes on ETF, indexes
New York, March 19 – Credit Suisse AG, London Branch priced $5.53 million of contingent coupon callable yield notes due March 4, 2020 linked to the lowest performing of the S&P 500 index, the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 13% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Credit Suisse may redeem the notes at par on any coupon payment date starting on June 13, 2018.
The payout at maturity will be par unless any underlier finishes below its 70% knock-in level, in which case investors will be exposed to any losses of the least-performing underlier.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| 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, iShares MSCI Emerging Markets exchange-traded fund and Euro Stoxx Banks index
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| Amount: | $5,530,000
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| Maturity: | March 4, 2020
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| Coupon: | 13% per year, payable quarterly if each underlier closes at or above its coupon barrier level on the observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below its knock-in level, in which case investors will be exposed to any losses of least performing underlier
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| Call option: | Starting June 13, 2018 at par on any coupon payment date
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| Initial levels: | 2,786.57 for S&P, $49.785 for iShares EM and 130.83 for Stoxx Banks
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| Coupon barrier levels: | 1,950.60 for S&P, $34.83 for iShares EM and 91.58 for Stoxx Banks; 70% of initial levels
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| Knock-in levels: | 1,950.60 for S&P, $34.83 for iShares EM and 91.58 for Stoxx Banks; 70% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1.5%
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| Cusip: | 22550WJC2
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