Published on 11/27/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.14 million contingent coupon callable yield notes on two indexes
By Susanna Moon
Chicago, Nov. 27 - Credit Suisse AG, London Branch priced $1.14 million of contingent coupon autocallable yield notes due Nov. 27, 2023 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 pay a contingent quarterly coupon at an annual rate of 7.15% if each index closes at or above its barrier level, 70% of the initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any interest payment beginning on June 2, 2014.
The payout at maturity will be par unless either index finishes at or below its 60% knock-in level, in which case investors will be fully exposed to the decline of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,142,000
|
| Maturity: | Nov. 27, 2023
|
| Coupon: | 7.15%, payable quarterly if each index closes at or above its barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If either underlying component falls to or below barrier level, par plus return of worst-performing underlying index; otherwise, par
|
| Call: | At par plus contingent coupon if each index closes at or above its initial level on any interest payment beginning on June 2, 2014
|
| Initial levels: | 1,804.76 for S&P, 1,124.92 for Russell
|
| Barrier levels: | 1,263.332 for S&P, 787.444 for Russell; 70% of initial levels
|
| Knock-in levels: | 1,082.856 for S&P, 674.952 for Russell; 60% of initial levels
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4%
|
| Cusip: | 22547QD37
|
© 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.
