Published on 11/27/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $562,000 contingent coupon callable yield notes on two indexes
By Susanna Moon
Chicago, Nov. 27 - Credit Suisse AG, London Branch priced $562,000 of contingent coupon callable yield notes due Nov. 29, 2023 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if each index closes at or above its barrier level, 65% of the initial level, on the observation date for that quarter.
The notes will are callable at par on any interest payment beginning Nov. 28, 2014.
The payout at maturity will be par unless either index finishes at or below its 50% knock-in level, in which case investors will be fully exposed to the decline of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $562,000
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Maturity: | Nov. 29, 2023
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Coupon: | 8.1%, payable quarterly if each index closes at or above its barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | If either underlying component falls to or below barrier level, par plus return of worst-performing underlying index; otherwise, par
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Call option: | At par beginning on Nov. 28, 2014
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Initial levels: | 3,072.75 for Euro Stoxx, 1,124.73 for Russell
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Barrier levels: | 1,997.2875 for Euro Stoxx, 731.0745 for Russell; 65% of initial levels
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Knock-in levels: | 1,536.375 for Euro Stoxx, 562.365 for Russell; 50% of initial levels
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Pricing date: | Nov. 25
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Settlement date: | Nov. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3%
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Cusip: | 22547QDH6
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