Published on 5/11/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.08 million 10.3% callable yield notes linked to JPMorgan
By Toni Weeks
San Diego, May 1 - Credit Suisse AG, Nassau Branch priced $3.08 million of 10.3% callable yield notes due Nov. 18, 2013 linked to the common stock of JPMorgan Chase & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless the final price of JPMorgan shares is less than the knock-in price, 70% of the initial price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying stock: | JPMorgan Chase & Co. (Symbol: JPM)
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Amount: | $3,075,000
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Maturity: | Nov. 18, 2013
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Coupon: | 10.3%, payable quarterly
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Price: | Par
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Payout at maturity: | Par, unless the final price of JPMorgan shares is less than the knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price
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Initial price: | $36.96
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Knock-in price: | $25.872, 70% of initial levels
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Call option: | At par on any interest payment date beginning Aug. 16
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Pricing date: | May 11
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Settlement date: | May 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546TTS0
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