Published on 3/26/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.32 million contingent coupon callable notes on S&P, Russell
By Marisa Wong
Madison, Wis., March 26 - Credit Suisse AG, Nassau Branch priced $1.32 million of contingent coupon callable yield notes due March 27, 2018 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 quarterly coupon of 6% per year if each index closes at or above the 65% barrier level on the observation date for that quarter. Otherwise, no coupon will be paid that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date after one year.
The payout at maturity will be par unless either index finishes at or below the 65% knock-in level, in which case investors will receive par plus the return of the worse performing component.
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 and Russell 2000
|
| Amount: | $1,319,000
|
| Maturity: | March 27, 2018
|
| Coupon: | 6% 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 either index finishes at or below knock-in level, in which case par plus return of worse performing component
|
| Call option: | At par plus the contingent coupon on any interest payment date beginning March 27, 2014
|
| Initial index levels: | 1,556.89 S&P 500 and 946.27 for Russell 2000
|
| Barrier/knock-in levels: | 1,011.9785 for S&P 500 and 615.0755 for Russell 2000; 65% of initial levels
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22546T3S8
|
© 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.
