By Jennifer Chiou
New York, June 27 - Credit Suisse AG, Nassau Branch priced $547,000 of high/low coupon buffered securities due June 28, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A coupon barrier event occurs if the index falls below the coupon barrier level on any of five annual observation dates. The coupon barrier level is the same as the initial index level.
If a coupon barrier event does not occur for an annual interest period, the corresponding interest rate for that interest period will be 6.15% per year. Otherwise it will be 1.5%.
If the final index level is at least 80% of the initial level, the payout at maturity will be par. Otherwise investors will lose 1% for every 1% decline beyond the 20% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | High/low coupon buffered securities
|
| Underlying index: | Russell 2000
|
| Amount: | $547,000
|
| Maturity: | June 28, 2018
|
| Coupon: | 6.15% per year if index level is at or above initial index level on annual observation date; otherwise 1.5%; payable annually
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 80% of initial level, par; otherwise, exposure to losses beyond the 20% buffer
|
| Initial level: | 963.83
|
| Coupon barrier level: | 963.83, 100% of initial level
|
| Pricing date: | June 26
|
| Settlement date: | June 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.45%
|
| Cusip: | 22547Q3N4
|
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