Published on 12/9/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.24 million contingent coupon callable notes on Russell, S&P 500
By Susanna Moon
Chicago, Dec. 9 - Credit Suisse AG, London Branch priced $1.24 million of contingent coupon callable yield notes due June 10, 2019 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon of 6.5% per year if each underlying component closes at or above its 65% barrier level on the observation date for that period.
The notes will be callable at par plus the contingent coupon on any interest payment beginning June 10, 2014.
The payout at maturity will be par unless either component finishes at or below its 65% knock-in level, in which case investors will be fully exposed to the decline of the worst performing component from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | Russell 2000, S&P 500
|
| Amount: | $1,235,000
|
| Maturity: | June 10, 2019
|
| Coupon: | 6.5% per year, payable quarterly if index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either component finishes at or below knock-in level, in which case investors will be fully exposed to losses of worst performing component from its initial level
|
| Call option: | At par plus the contingent coupon on any interest payment beginning June 10, 2014
|
| Initial levels: | 1,785.03 for S&P, 1,122.47 for Russell
|
| Barrier levels: | 1,160.2695 for S&P, 729.6055 for Russell; 65% of initial levels
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 10
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22547QDF0
|
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