Published on 10/31/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.46 million high/low coupon callable notes tied to Russell, oil fund
By Susanna Moon
Chicago, Oct. 31 - Credit Suisse AG, Nassau Branch priced $2.46 million of high/low coupon callable yield notes due Jan. 31, 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 any underlying component ever falls to or below the 65% trigger level during the life of the notes.
The coupon will be 12% if a knock-in event never occurs during any quarterly observation period. Otherwise, the coupon for that period and each subsequent interest period will be 1%. Interest is payable quarterly.
The notes are callable at par on any interest payment date.
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, United States Oil Fund, LP
|
| Amount: | $2,459,000
|
| Maturity: | Jan. 31, 2014
|
| Coupon: | 12% if neither component falls to or below knock-in level during quarterly observation period; otherwise, 1% for that period and afterward; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If knock-in event occurs, par plus return of worst-performing component, capped at par; otherwise, par
|
| Call option: | On any interest payment date
|
| Initial levels: | 813.25 for Russell, $31.79 for oil fund
|
| Knock-in levels: | 528.6125 for Russell, $20.6635 for oil fund; 65% of initial levels
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22546TA68
|
© 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.
