Published on 1/30/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.46 million autocallable notes tied to S&P 500, Russell 2000
By Marisa Wong
Madison, Wis., Jan. 30 - Credit Suisse AG, Nassau Branch priced $2.46 million of 0% autocallable securities due Jan. 29, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 10% per year if both indexes close at or above their initial levels on an annual review date.
If the notes are not called, the payout at maturity will be par unless either index finishes at or below its knock-in level - 75% of the initial level - in which case investors will receive par plus the return of the worse-performing index, up to a maximum payout of par.
Barclays is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Autocallable securities
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Underlying indexes: | S&P 500 index and Russell 2000 index
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Amount: | $2,456,000
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Maturity: | Jan. 29, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index finishes at or below its knock-in level, in which case par plus return of worse-performing index, up to a maximum payout of par
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Call: | At par plus 10% per year if both indexes close at or above their initial levels on Jan. 28, 2014, Jan. 27, 2015 or Jan. 26, 2016
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Initial levels: | 1,500.18 for S&P 500, 906.71 for Russell
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Knock-in levels: | 1,125.135 for S&P 500, 680.0325 for Russell; 75% of initial levels
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agent: | Barclays
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Fees: | 2.75%
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Cusip: | 22546TT50
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