Published on 2/17/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $777,000 high/low coupon callable notes on Russell, two funds
By Susanna Moon
Chicago, Feb. 17 - Credit Suisse AG, Nassau Branch priced $777,000 of high/low coupon callable yield notes due Feb. 21, 2013 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.
A knock-in event occurs if any underlying component falls to or below 55% of its initial level during any observation period.
If a knock-in event never occurs, the coupon will be 12.5%. If a knock-in event occurs during any monthly observation period, the coupon for that interest period and each subsequent interest period will be 1%. Interest is payable monthly.
The notes are callable on any interest payment date.
The payout at maturity will be par unless a knock-in event occurs, in which case the payout will be plus the return of the worst-performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
|
Issue: | High/low coupon callable yield notes
|
Underlying components: | Russell 2000 index, United States Oil Fund, LP and Market Vectors Gold Miners ETF
|
Amount: | $777,000
|
Maturity: | Feb. 21, 2013
|
Coupon: | 12.5% if no component falls to or below knock-in level during monthly observation period; otherwise, 1% for that period and afterward; payable monthly
|
Price: | Par
|
Payout at maturity: | If knock-in event occurs, par plus the return of the worst-performing component, capped at par; otherwise, par
|
Call option: | On any interest payment date beginning March 21
|
Initial levels: | 813.98 for Russell, $39.18 for oil fund, $53.56 for gold fund
|
Knock-in levels: | 447.689 for Russell, $21.549 for oil fund, $29.458 for gold fund; 55% of initial levels
|
Pricing date: | Feb. 15
|
Settlement date: | Feb. 21
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.25%
|
Cusip: | 22546TLU3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.