By Jennifer Chiou
New York, Oct. 2 - Credit Suisse AG, Nassau Branch priced $2,195,000 of high/low coupon callable yield notes due Jan. 3, 2014 linked to the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either underlying component falls to or below 55% of its initial level during the life of the notes.
If a knock-in event never occurs, the coupon is 11%.
If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period is 1%. Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning on April 3, 2013.
The payout at maturity will be par unless either component falls to or below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying components: Russell 2000 index and United States Oil Fund, LP
|
| Amount: | $2,195,000
|
| Maturity: | Jan. 3, 2014
|
| Coupon: | 11% if a knock-in event never occurs; otherwise, 1% for that interest period and each subsequent interest period
|
| Price: | Par
|
| Payout at maturity: | Par unless either component falls to or below knock-in level during life of notes, in which case par plus return of worst-performing component, maximum payout of par
|
| Initial levels: | 837.45 for Russell, $34.13 for fund
|
| Knock-in levels: | 460.5975 for Russell, $18.7715 for fund, 60% of initial levels
|
| Call option: | At par on any interest payment date beginning on April 3, 2013
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22546TYE5
|
© 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.
