By Jennifer Chiou
New York, March 18 - Credit Suisse AG, Nassau Branch priced $1.03 million of high/low coupon callable yield notes due March 19, 2015 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either index closes at or below 70% of its initial level.
Interest is payable monthly. The coupon will be 7% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent month.
The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lower-performing index, subject to a maximum payout of par.
The notes are callable at par on any interest payment date on or after Sept. 19, 2013.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1.03 million
|
| Maturity: | March 19, 2015
|
| Coupon: | 7% per year unless either index closes at or below its knock-in level, in which case coupon will be 1% from then on; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either index closes at or below its knock-in level during life of notes, par plus return of lower-performing index, up to maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date on or after Sept. 19, 2013.
|
| Initial levels: | 1,563.23 for S&P 500 and 953.07 for Russell 2000
|
| Knock-in levels: 1,094.261 for S&P 500 and 667.149 for Russell 2000; 70% of initial levels
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22546T3E9
|
© 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.
