Published on 10/31/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.64 million contingent coupon callable yield notes on indexes, fund
By Susanna Moon
Chicago, Oct. 31 – Credit Suisse AG, London Branch priced $2.64 million of contingent coupon callable yield notes due Nov. 2, 2017 linked to the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 7.9% 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.
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, Euro Stoxx 50 and the iShares MSCI EAFE ETF
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| Amount: | $2,642,000
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| Maturity: | Nov. 2, 2017
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| Coupon: | 7.9%, 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
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| Barrier levels: | 1,821.69 for Euro Stoxx, 689.6712 for Russell, $37.692 | for EAFE fund; 60% of initial levels
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| Pricing date: | Oct. 28
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| Settlement date: | Oct. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 48127DJ33
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