Published on 7/29/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.88 million contingent coupon callable yield notes tied to indexes
By Susanna Moon
Chicago, July 29 – Credit Suisse AG, London Branch priced $3.88 million of contingent coupon callable yield notes due July 31, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.85% if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes will be callable at par on any interest payment date after six months.
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: | S&P 500 and Russell 2000
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Amount: | $3,883,000
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Maturity: | July 31, 2018
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Coupon: | 6.85% annualized for each quarter that each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to any losses of worse performing index
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Call option: | At par on any interest payment date beginning Jan. 29, 2016
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Initial levels: | 2,079.65 for S&P and 1,225.992 for Russell
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Barrier levels: | 1,455.755 for S&P and 858.1944 for Russell, 70% of initial levels
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Pricing date: | July 24
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Settlement date: | July 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.3%
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Cusip: | 22546VG42
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