Published on 6/17/2011 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.5 million 6.25% callable yield notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., June 17 - Credit Suisse AG, Nassau branch priced $1.5 million of 6.25% callable yield notes due June 20, 2012 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless either index falls to or below its knock-in level - 80% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing index, subject to a maximum payout of par.
Beginning Sept. 20, the notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau branch
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Issue: | Callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,498,000
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Maturity: | June 20, 2012
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Coupon: | 6.25%, payable monthly
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Price: | Par
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Payout at maturity: | If either index falls to or below its knock-in level during the life of the notes, par plus the return of the worst-performing index, subject to a maximum payout of par; otherwise, par
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Call option: | At par on any interest payment date from Sept. 20 onward
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Initial levels: | 1,265.42 for S&P 500 and 779.46 for Russell 2000
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Knock-in levels: | 1,012.336 for S&P 500 and 623.568 for Russell 2000; 80% of initial levels
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Pricing date: | June 15
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Settlement date: | June 20
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22546E7J7
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