By Marisa Wong
Madison, Wis., June 27 - Credit Suisse AG, Nassau Branch priced $6.96 million of callable daily range accrual securities due March 28, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6.35% multiplied by the proportion of days during an observation period on which the index closes at or above the accrual barrier, 80% of the initial index level. Interest is payable monthly.
After one year, the notes will be callable at par on any interest payment date.
If the notes are not called, 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 20% 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
|
| Amount: | $6,962,000
|
| Maturity: | March 28, 2019
|
| Coupon: | 6.35% per year for each day that index closes above barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% drop beyond 20%
|
| Call option: | At par on any interest payment date beginning on June 30, 2014
|
| Initial level: | 961.26
|
| Accrual barrier level: | 769.008, 80% of initial level
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22547Q3V6
|
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