Published on 1/20/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.29 million contingent coupon callable yield notes on index, funds
By Susanna Moon
Chicago, Jan. 20 – Credit Suisse AG, London Branch priced $2.29 million of contingent coupon callable yield notes due Jan. 23, 2017 linked to the Russell 2000 index, the United States Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 18.15% annualized if each component closes at or above its barrier level, 60% 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 any component finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worst performing component.
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: | Russell 2000, United States Oil Fund, LP and Market Vectors Gold Miners ETF
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| Amount: | $2,285,000
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| Maturity: | Jan. 23, 2017
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| Coupon: | 18.15%, payable quarterly if each component closes at or above its barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | If any component falls below knock-in level, par plus return of worst performing component; otherwise, par
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| Call option: | At par plus coupon on any interest payment date beginning Jan. 21, 2016
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| Initial levels: | 1,154.709 for Russell, $17.45 for oil fund, $21.48 for gold fund
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| Barrier levels: | 692.8254 for Russell, $10.47 for oil fund, $12.888 for gold fund; 60% of initial levels
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.8%
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| Cusip: | 22546V2B1
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