By Marisa Wong
Morgantown, W.Va., June 22 – Credit Suisse AG, London Branch priced $2.7 million of contingent coupon callable yield notes due June 24, 2019 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon at an annualized rate of 9.75% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that semiannual period.
The notes are callable in whole at par on any contingent coupon payment date.
The payout at maturity will be par unless either index finishes below its knock-in level, 70% of its initial level, in which case investors will be fully exposed to the decline in the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $2,703,000
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Maturity: | June 24, 2019
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Coupon: | 9.75%, payable semiannually if each index closes at or above barrier level on observation date for that semiannual period
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Price: | Par
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Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline in lesser-performing index
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Call option: | In whole at par on any contingent coupon payment date
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Initial levels: | 2,849.17 for Euro Stoxx and 1,144.698 for Russell 2000
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Barrier/knock-in levels: | 1,994.419 for Euro Stoxx and 801.2886 for Russell 2000; 70% of initial levels
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Pricing date: | June 17
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Settlement date: | June 24
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.3%
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Cusip: | 22548QAA3
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