Published on 12/13/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.5 million contingent coupon callable yield notes linked to two indexes
By Angela McDaniels
Tacoma, Wash., Dec. 13 - Credit Suisse AG, London Branch priced $1.5 million of contingent coupon callable yield notes Dec. 18, 2015 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 annualized rate of 5.5% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes at or below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes are callable at par plus the contingent coupon, if any, on any interest payment.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1.5 million
|
| Maturity: | Dec. 18, 2015
|
| Coupon: | 5.5% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case full exposure to decline of worst-performing index
|
| Call option: | At par plus contingent coupon, if any, on any interest payment date
|
| Initial index levels: | 1,782.22 for S&P 500 and 1,101.50 for Russell 2000
|
| Barrier levels: | 1,247.5540 for S&P 500 and 771.0500 for Russell 2000, or 70% of initial levels
|
| Pricing date: | Dec. 11
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| Settlement date: | Dec. 18
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.8%
|
| Cusip: | 22547QEN2
|
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