By Marisa Wong
Madison, Wis., March 26 - Credit Suisse AG, Nassau Branch priced $9 million of callable daily range accrual securities due Dec. 27, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6% per year multiplied by the proportion of days on which the closing index level is greater than or equal to the accrual barrier, 80% of the initial level. Interest, if any, will be payable monthly.
The notes are callable at par plus the contingent coupon, if any, on any contingent coupon payment date beginning March 27, 2014.
The payout at maturity will be par unless the final index level is less than the initial level by more than 20%, in which case investors will lose 1% for every 1% decline beyond the buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable daily range accrual securities
|
| Underlying index: | Russell 2000 index
|
| Amount: | $9 million
|
| Maturity: | Dec. 27, 2018
|
| Coupon: | 6% per year for each day closing index level is greater than or equal to 80% of initial level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final index level is less than initial level by more than 20%, in which case 1% loss for every 1% drop beyond buffer
|
| Initial level: | 946.27
|
| Barrier level: | 757.016, 80% of initial level
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 22546T2U4
|
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