By Susanna Moon
Chicago, May 23 - Credit Suisse AG, Nassau Branch priced $3.88 million of 0% absolute return barrier securities due May 27, 2015 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if the fund ever closes below the 72% knock-in level during the life of the notes.
If the fund finishes at or above the initial level, the payout at maturity will be par plus any fund gain, up to a maximum return of $1,200 for each $1,000 principal amount.
If the fund finishes below the initial level but a knock-in event never occurs, the payout will be par plus the absolute value of the return, capped at $1,279.99 per $1,000 of notes.
If the fund falls and a knock-in event has occurred, investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $3,875,000
|
| Maturity: | May 27, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any fund gain, capped at 20%; if fund falls but never dips below knock-in level, par plus absolute value of return, capped at 28%; otherwise, full exposure to any losses
|
| Initial share price: | $43.44
|
| Knock-in level: | $31.2768, 72% of initial share price
|
| Pricing date: | May 21
|
| Settlement date: | May 24
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fee: | 1.5%
|
| Cusip: | 22547Q2R6
|
© 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.
