Published on 3/12/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon callable yield notes on ETF, Stoxx
By Wendy Van Sickle
Columbus, Ohio, March 12 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon callable yield notes due March 8, 2021 linked to the lowest performing of the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 8.15% if each asset closes at or above its barrier level, 70% of its initial level, on a quarterly observation date.
The notes are callable at par on any coupon payment date on or after Sept. 10, 2018.
The payout at maturity will be par unless either asset finishes below its 70% knock-in level, in which case investors will be exposed to any losses of the lesser-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: | Euro Stoxx 50 index and iShares MSCI EAFE exchange-traded fund
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Amount: | $500,000
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Maturity: | March 8, 2021
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Coupon: | 8.15% per year, payable quarterly if each asset closes at or above its barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless either asset finishes below its knock-in level, in which case investors will be exposed to any losses of lesser-performing asset
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Call option: | At par on any coupon payment date on or after Sept. 10, 2018
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Initial levels: | 3,355.32 for index, $69.79 for ETF
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Barrier/knock-in levels: | 2,348.724 for index, $48.853 for ETF; 70% of initial levels
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Pricing date: | March 5
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Settlement date: | March 8
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.95%
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Cusip: | 22550WHC4
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