Published on 9/23/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2 million contingent coupon callable notes on three indexes
By Marisa Wong
Morgantown, W.Va., Sept. 23 – Credit Suisse AG, London Branch priced $2 million of contingent coupon callable yield notes due Sept. 28, 2016 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 13.5% per year if each index closes at or above its barrier level, 75% of its initial level, on every day during that period.
The payout at maturity will be par unless any index finishes below its 75% knock-in level, in which case investors will be fully exposed to the losses of the worst performing index.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index
|
| Amount: | $2 million
|
| Maturity: | Sept. 28, 2016
|
| Coupon: | 13.5% per year, payable each quarter unless any index closes below barrier level during quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to losses of least performing index
|
| Call option: | At par on any interest payment date beginning Dec. 28
|
| Initial index levels: | 1,966.97 for S&P, 1,161.09 for Russell, 3,076.05 for Euro Stoxx
|
| Barrier/knock-in levels: | 1,475.23 for S&P, 870.82 for Russell, 2,307.04 for Euro Stoxx; 75% of initial levels
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.27%
|
| Cusip: | 22546VKG0
|
|
|
© 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.
