Published on 2/20/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.51 million 6% autocallable notes on Russell, iShares Brazil
By Toni Weeks
San Luis Obispo, Calif., Feb. 20 - Credit Suisse AG, Nassau Branch priced $1.51 million of 6% autocallable yield notes due Feb. 21, 2014 linked to the Russell 2000 index and the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the closing level of each underlying component is at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either component falls below its knock-in level - 70% of its initial 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: | Autocallable yield notes
|
| Underlying components: | Russell 2000 index, iShares MSCI Brazil index fund
|
| Amount: | $1,507,000
|
| Maturity: | Feb. 21, 2014
|
| Coupon: | 6%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If neither component falls below 70% of initial level during life of notes, par; otherwise, par lus return of worst-performing component, up to maximum of par
|
| Call: | At par if both underlying components close at or above initial levels on any quarterly observation date
|
| Initial levels: | 923.15 for Russell, $56.17 for iShares Brazil
|
| Knock-in level: | 646.205 for Russell, $39.319 for iShares Brazil, 70% of initial levels
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22546TZ20
|
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