Published on 4/1/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $31.55 million one-year Stars linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., April 1 - Credit Suisse AG, Nassau Branch priced $31.55 million of 0% Strategic Accelerated Redemption Securities due April 11, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on one of three observation dates, the notes will be called at par of $10 plus an annualized call premium of 8.75%. The observation dates are Oct. 4, Jan. 3, 2014 and April 4, 2014.
If the notes are not called, the payout at maturity will be par plus the index return, with full exposure to losses.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
|
Issue: | Strategic Accelerated Redemption Securities
|
Underlying index: | S&P 500
|
Amount: | $31,547,580
|
Maturity: | April 11, 2014
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If notes are not called, par plus index return, with full exposure to losses
|
Call: | At par plus 8.75% per year if index closes at or above its initial level on any of three observation dates (Oct. 4, Jan. 3, 2014 and April 4, 2014)
|
Initial level: | 1,569.19
|
Pricing date: | March 28
|
Settlement date: | April 5
|
Underwriter: | BofA Merrill Lynch
|
Fees: | 1.25%
|
Cusip: | 22539T787
|
© 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.