New Issue: Credit Suisse prices $804,000 daily range accrual notes tied to S&P 500

By Susanna Moon

Chicago, Jan. 29 – Credit Suisse AG, London Branch priced $804,000 of callable daily range accrual securities due Jan. 29, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will accrue at 8.5% for each day that the index closes at or above its accrual barrier, 70% of its initial index level. Interest is payable monthly.

The payout at maturity will be par unless the index finishes below the 50% knock-in level, in which case investors will be fully exposed to any losses.

The notes are callable at par on any interest payment date after one year.

Incapital LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Callable daily range accrual securities
Underlying index:	S&P 500
Amount:	$804,000
Maturity:	Jan. 29, 2031
Coupon:	8.5% annualized for each day that the index closes at or above accrual barrier; payable monthly
Price:	Par
Payout at maturity:	Par unless index falls by more than 50%, in which case full exposure to any losses
Call option:	At par on any interest payment date beginning Jan. 30, 2017
Initial level:	1,903.63
Accrual barrier:	1,332.541, 70% of initial level
Knock-in level:	951.815, 50% of initial level
Pricing date:	Jan. 26
Settlement date:	Jan. 29
Agent:	Incapital LLC
Fees:	5.5%
Cusip:	22546VUJ3

© 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.