Published on 1/28/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $442,000 contingent coupon autocallable yield notes on indexes
By Jennifer Chiou
New York, Jan. 28 – Credit Suisse AG, London Branch priced $442,000 of contingent coupon autocallable yield notes due Jan. 29, 2025 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes will be automatically callable at par if each index closes at or above its initial level on any observation date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $442,000
|
| Maturity: | Jan. 29, 2025
|
| Coupon: | 7% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that interest period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its trigger level, in which case par plus return of worst-performing index, with full exposure to losses
|
| Call option: | On any contingent coupon payment date beginning April 29, 2015
|
| Initial levels: | 2,057.09 for S&P 500, 1,200.74 for Russell
|
| Barrier levels: | 1,542.8175 for S&P 500, 900.555 for Russell; 70% of initial levels
|
| Trigger levels: | 1,337.1085 for S&P 500, 780.481 for Russell; 65% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.65%
|
| Cusip: | 22546V2C9
|
|
|
© 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.
