Published on 12/24/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.03 million contingent coupon callable yield notes on indexes
By Jennifer Chiou
New York, Dec. 24 – Credit Suisse AG, London Branch priced $2.03 million of contingent coupon callable yield notes due Dec. 31, 2024 linked to the Euro Stoxx 50 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 7.75% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes will be callable on any contingent coupon payment date beginning on March 31, 2015.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $2.03 million
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| Maturity: | Dec. 31, 2024
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| Coupon: | 7.75% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that quarterly interest period
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case par plus return of worst-performing index, with full exposure to losses
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| Call option: | On any contingent coupon payment date beginning March 31, 2015
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| Initial levels: | 3,192.47 for Euro Stoxx 50, 1,202.438 for Russell
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| Barrier/knock-in levels: | 1,915.482 for Euro Stoxx 50, 721.463 for Russell; 60% of initial levels
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 29
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| Placement agent: | Incapital LLC
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| Fees: | 4%
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| Cusip: | 22547QYT7
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