Published on 10/2/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2 million contingent coupon callable yield notes on three indexes
By Jennifer Chiou
New York, Oct. 2 - Credit Suisse AG, London Branch priced $2 million contingent coupon callable yield notes due Oct. 7, 2015 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.25% if each index closes at or above its barrier level, 75% of the initial level, on the observation date for that quarter.
The notes will be callable at par plus the contingent coupon, if any, on any interest payment date.
The payout at maturity will be par unless any index finishes at or below its 75% 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 underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $2 million
|
| Maturity: | Oct. 7, 2015
|
| Coupon: | 10.25%, payable quarterly if each index closes at or above its barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If any underlying component falls to or below knock-in level, par plus return of worst-performing underlying index; otherwise, par
|
| Call option: | At par plus coupon, if any, on any interest payment date beginning on Jan. 7
|
| Initial levels: | 1,681.55 for S&P, 1,073.79 for Russell and 2,893.15 for Euro Stoxx
|
| Barrier/knock-in levels: | 1,261.16 for S&P, 805.34 for Russell and 2,169.86 for Euro Stoxx; 75% of initial levels
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 7
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.33%
|
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