By William Gullotti
Buffalo, N.Y., June 3 – Credit Suisse AG, London Branch priced $3.05 million of callable daily range accrual securities due May 28, 2027 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 7.85% for each day that the index closes at or above the 85% barrier level. Interest will be payable monthly.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will lose 1% for every 1% drop beyond 15%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Callable daily range accrual securities
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Underlying index: | Russell 2000 index
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Amount: | $3,046,000
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Maturity: | May 28, 2027
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Coupon: | 7.85% annualized for each day that index closes at or above barrier level; payable monthly
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 15%, in which case lose 1% for every 1% drop beyond 15%
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Call option: | At par on any interest payment date after a year
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Initial level: | 1,799.164
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Barrier level: | 1,529.2894; 85% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.5%
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Cusip: | 22553PW21
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