Published on 12/24/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $345,000 contingent coupon callable notes on Euro Stoxx, Russell
By Toni Weeks
San Luis Obispo, Calif., Dec. 24 – Credit Suisse AG, London Branch priced $345,000 of contingent coupon callable yield notes due Dec. 29, 2017 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 semiannual coupon at an annual rate of 8.25% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes will be callable on any contingent coupon payment date beginning on June 29, 2015.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | Euro Stoxx 50 and Russell 2000
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Amount: | $345,000
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Maturity: | Dec. 29, 2017
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Coupon: | 8.25% annualized, payable semiannually if each index closes at or above its barrier level on observation date for that semiannual interest period
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its knock-in level, in which case par plus return of worst-performing index, with full exposure to losses
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Call option: | On any contingent coupon payment date beginning June 29, 2015
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Initial levels: | 3,141.28 for Euro Stoxx, 1,195.941 for Russell
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Barrier/knock-in levels: | 2,198.896 for Euro Stoxx, 837.159 for Russell; 70% of initial levels
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Pricing date: | Dec. 19
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Settlement date: | Dec. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.2%
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Cusip: | 22547QY91
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