Published on 11/26/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.45 million contingent coupon callable yield notes on two indexes
By Toni Weeks
San Luis Obispo, Calif., Nov. 26 – Credit Suisse AG, London Branch priced $1.45 million of contingent coupon callable yield notes due Dec. 1, 2017 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon of 8% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that interest period. Interest is payable semiannually.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
Amount: | $1,447,000
|
Maturity: | Dec. 1, 2017
|
Coupon: | 8%, payable semiannually if each index closes at or above its barrier level on observation date for interest period
|
Price: | Par
|
Payout at maturity: | If either index falls below knock-in level, par plus return; otherwise, par
|
Call option: | At par plus coupon on any interest payment date beginning June 1, 2015
|
Initial levels: | 3,194.22 for Euro Stoxx 50 and 1,172.416 for Russell 2000
|
Barrier/knock-in levels: | 2,235.954 for Euro Stoxx 50 and 820.691 for Russell 2000; 70% of initial levels
|
Pricing date: | Nov. 21
|
Settlement date: | Dec. 1
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.2%
|
Cusip: | 22547QWC6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.