Published on 1/29/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $10 million review notes linked to two indexes
By Toni Weeks
San Luis Obispo, Calif., Jan. 29 – Credit Suisse AG, London Branch priced $10 million of 0% review notes due Jan. 29, 2020 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 15% per year if each index closes at or above its initial level on any of five annual review dates beginning Jan. 26, 2016.
The payout at maturity will be par unless either index falls by more than the knock-out buffer of 10%, in which case investors will be fully exposed to the decline of the worst-performing index.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Review notes
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $10 million
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Maturity: | Jan. 29, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index falls by more than the knock-out buffer of 10%, in which case investors will be fully exposed to losses of worst-performing index
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Call: | Automatically at par plus a premium of 15% per year if each index closes at or above its initial level on any of five annual review dates beginning Jan. 26, 2016
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Initial levels: | 2,057.09 for S&P, 3,414.28 for Euro Stoxx
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Knock-out levels: | 1851.381 for S&P, 3,072.852 for Euro Stoxx; 90% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 3%
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Cusip: | 22546V3C8
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