By Susanna Moon
Chicago, March 15 – Credit Suisse AG, London Branch priced $1.35 million of contingent coupon callable yield notes due March 5, 2021 linked to the lesser performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 10.85% if each fund closes at or above its 60% coupon barrier on the observation date for that period.
The notes are callable at par on any call review date after six months.
The payout at maturity will be par unless either fund finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worse performing fund.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF and Financial Select Sector SPDR Fund
|
| Amount: | $1.35 million
|
| Maturity: | March 5, 2021
|
| Coupon: | 10.85% annualized, payable semiannually if each fund closes at or above its 60% coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either fund ends below 60% knock-in level, in which case 1% loss per 1% decline of worse performing fund
|
| Call option: | At par if on any review date beginning Sept. 5, 2018
|
| Initial levels: | $34.79 for oil fund and $29.56 for financial fund
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22550WFC6
|
|
|
|
|
© 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.
