Published on 11/4/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $408,000 contingent coupon callable yield notes on Russell 2000
By Toni Weeks
San Luis Obispo, Calif., Nov. 4 – Credit Suisse AG, London Branch priced $408,000 of contingent coupon callable yield notes due Nov. 5, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 8.25% annualized if the index closes at or above its barrier level, 75% of the initial level, on any quarterly observation date.
The notes will be callable at par plus the contingent coupon on any interest payment date after one year.
The payout at maturity will be par unless the index finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying index: | Russell 2000
|
| Amount: | $408,000
|
| Maturity: | Nov. 5, 2019
|
| Coupon: | 8.25%, payable quarterly if index closes at or above its barrier level on observation date for quarter
|
| Price: | Par
|
| Payout at maturity: | If index falls below knock-in level, par plus return; otherwise, par
|
| Call option: | At par plus coupon on any interest payment date beginning Nov. 5, 2015
|
| Initial level: | 1,173.51
|
| Barrier/knock-in level: | 880.1325, 75% of initial level
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.55%
|
| Cusip: | 22547QU61
|
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