Published on 4/22/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $965,000 contingent coupon callable yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., April 22 – Credit Suisse AG, London Branch priced $965,000 of contingent coupon callable yield notes due April 22, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.75% per year unless either index closes below its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its knock-in level, 60% of its initial level, in which case investors will be fully exposed to the decline of the least-performing index.
Beginning April 22, 2016, the notes are 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: | S&P 500 and Russell 2000
|
| Amount: | $965,000
|
| Maturity: | April 22, 2021
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 6.75% per year unless either index closes below coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of least-performing index
|
| Call option: | At par on any interest payment date from April 22, 2016 onward
|
| Initial index levels: | 2,081.18 for S&P 500 and 1,251.858 for Russell 2000
|
| Coupon barrier levels: | 1,352.767 for S&P 500 and 813.7077 for Russell 2000; 65% of initial levels
|
| Knock-in levels: | 1,248.708 for S&P 500 and 751.1148 for Russell 2000; 60% of initial levels
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22546VBD7
|
© 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.
