By Angela McDaniels
Tacoma, Wash., Nov. 20 – Credit Suisse AG, Nassau Branch priced another $682,833 of 0% exchange-traded notes due Feb. 19, 2020 linked to the Credit Suisse Long/Short Liquid Index (Net), according to a 424B2 filing with the Securities and Exchange Commission.
The $500,000 principal amount of additional notes priced at 136.5665 for proceeds of $682,833.
In February 2010, the company said it planned to issue up to $1 billion of the notes. In May 2015, the issuer changed the name of the securities to Credit Suisse X-Links Long/Short Equity ETNs due Feb. 19, 2020. Previously, they were ETNs due April 20, 2020 linked to the Credit Suisse Long/Short Index (Net).
The index is designed to correlate to the historical performance of the Credit Suisse Tremont Long/Short Equity Hedge Fund index by tracking the performance of non-hedge-fund, transparent market measures.
The payout at maturity will be par of $20 plus the index return minus a 0.45% annualized fee factor.
The notes are putable in increments of $5 million or more on any business day, and they may be called beginning Feb. 19, 2012 if the principal amount of the notes outstanding is $10 million or less. Both options expire on Feb. 5, 2020.
The notes are listed on NYSE Arca under the symbol “CSLS.”
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | X-Links Long/Short Equity ETNs
|
| Underlying index: | Credit Suisse Long/Short Liquid Index (Net)
|
| Amount: | $42,597,440, increased from original $5,002,880
|
| Maturity: | Feb. 19, 2020
|
| Coupon: | 0%
|
| Price: | Par of $20 for original issue; 136.5665 for latest $500,000
|
| Payout at maturity: | Par plus index return minus 0.45% annualized fee factor
|
| Put option: | At any time through Feb. 5, 2020, subject to minimum of $5 million
|
| Call option: | Between Feb. 19, 2012 and Feb. 5, 2020 if principal amount of notes outstanding is $10 million or less
|
| Pricing dates: | Feb. 19, 2010 for original issue; Nov. 19 for latest $500,000
|
| Settlement dates: Feb. 25, 2010 for original issue; Nov. 24 for latest add-on
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Listing: | NYSE Arca: CSLS
|
| Cusip: | 22542D878
|
|
|
© 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.
