Published on 3/21/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2 million contingent coupon callable yield notes on three indexes
By Toni Weeks
San Luis Obispo, Calif., March 21 - Credit Suisse AG, Nassau Branch priced $2 million of contingent coupon callable yield notes due March 26, 2015 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon of 10% per year if each index closes at or above the 75% barrier level on the observation date for that quarter. Otherwise, no coupon will be paid that period.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless any index finishes at or below the 75% knock-in level, in which case investors will receive par plus the return of the worst-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $2 million
|
| Maturity: | March 26, 2015
|
| Coupon: | 10% per year if each index closes at or above barrier level on quarterly observation date; otherwise, no coupon will be paid that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes at or below knock-in level, in which case par plus return of worst-performing component
|
| Call option: | At par plus contingent coupon on any interest payment date beginning June 26
|
| Initial index levels: | 1,548.34 for S&P 500, 942.85 for Russell 2000, 2,708.9 for Euro Stoxx 50
|
| Barrier/knock-in levels: | 1,161.25 for S&P 500, 707.14 for Russell 2000, 2,031.67 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.67%
|
| Cusip: | 22546T4C2
|
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