Published on 12/11/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.7 million contingent coupon callable notes on fund, indexes
By Susanna Moon
Chicago, Dec. 11 - Credit Suisse AG, London Branch priced $2.7 million of contingent coupon callable yield notes due June 10, 2019 linked to the S&P 500 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon of 8.5% per year if each underlying component closes at or above its 65% barrier level on the observation date for that period.
The notes will be callable at par plus the contingent coupon on any interest payment.
The payout at maturity will be par unless any component finishes at or below its 65% knock-in level, in which case investors will be fully exposed to the decline of the worst performing component from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | S&P 500 index, Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $2,695,000
|
| Maturity: | June 10, 2019
|
| Coupon: | 8.5% per year, payable quarterly if index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either component finishes at or below knock-in level, in which case investors will be fully exposed to losses of worst performing component from its initial level
|
| Call option: | At par plus the contingent coupon on any interest payment
|
| Initial levels: | 1,805.09 for S&P, 2,979.94 for Euro Stoxx and $41.94 for MSCI EM
|
| Barrier levels: | 1,173.3085 for S&P, 1,936.961 for Euro Stoxx and $27.261 for MSCI EM; 65% of initial levels
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 11
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22547QEG7
|
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