Published on 4/24/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.58 million contingent coupon notes linked to Russell 2000
By Susanna Moon
Chicago, April 24 - Credit Suisse AG, Nassau Branch priced $2.58 million of contingent coupon yield notes due April 26, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6.11% if the index closes at or above the 70% barrier level on the observation date for that quarter.
The payout at maturity will be par unless the index finishes at or below the 70% knock-in level, in which case investors will receive par plus the return.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Contingent coupon yield notes
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Underlying index: | Russell 2000
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Amount: | $2,575,000
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Maturity: | April 26, 2019
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Coupon: | 6.11% per year if index closes at or above barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless index finishes at or below knock-in level, in which case par plus return
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Initial index level: | 912.50
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Knock-in level: | 638.75, or 70% of initial level
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Pricing date: | April 19
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Settlement date: | April 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3%
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Cusip: | 22546T4Y4
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