Published on 1/30/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.81 million contingent coupon callable notes on indexes, fund
By Toni Weeks
San Luis Obispo, Calif., Jan. 30 - Credit Suisse AG, London Branch priced $2.81 million of contingent coupon callable yield notes due Jan. 31, 2017 linked to the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each component closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any component finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing component.
The notes are callable at par plus the contingent coupon on any interest payment date.
Barclays is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | Russell 2000, Euro Stoxx 50 and iShares MSCI EAFE ETF
|
| Amount: | $2,807,000
|
| Maturity: | Jan. 31, 2017
|
| Coupon: | 8% per year, payable quarterly if each component closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any component finishes below knock-in level, in which case full exposure to decline of worst-performing component
|
| Call option: | At par plus contingent coupon on any interest payment date
|
| Initial levels: | 1,138.24 for Russell, 3,038.6 for Euro Stoxx, $65.11 for iShares MSCI EAFE
|
| Barrier levels: | 739.856 for Russell, 1,975.09 for Euro Stoxx, $42.3215 for iShares MSCI EAFE; 65% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 22547QFP6
|
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