Published on 7/29/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $803,000 contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, July 29 - Credit Suisse AG, London Branch priced $803,000 of contingent coupon callable yield notes due July 30, 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 contingent quarterly coupon of at an annualized rate of 6.6% if each index closes at or above its barrier level, 70% of the initial level, on the observation date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment after six months.
The payout at maturity will be par unless either index finishes at or below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $803,000
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Maturity: | July 30, 2018
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Coupon: | 6.6% per year, payable quarterly, if each 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 either index finishes at or below knock-in level, in which case par plus return of worst performing index
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Call option: | At par plus contingent coupon on any interest payment date beginning Jan. 30, 2014
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Initial index levels: | 1,690.25 for S&P, 1,054.18 for Russell
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Barrier levels: | 1,098.6625 for S&P, 685.217 for Russell; 65% of initial levels
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Pricing date: | July 25
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Settlement date: | July 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22547Q5X0
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