Published on 2/5/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $75,000 high/low coupon callable notes on Russell, oil fund
By Susanna Moon
Chicago, Feb. 5 - Credit Suisse AG, London Branch priced $75,000 of high/low coupon callable yield notes due Aug. 5, 2015 linked to the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either underlying component closes at or below 65% of its initial level on any day during the life of the notes.
If a knock-in event never occurs, the coupon will be 9%. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period will be 1%. Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless a knock-in event occurs, in which case investors will receive par plus the return of the worst performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying components: | Russell 2000 and the United States Oil Fund, LP
|
| Amount: | $75,000
|
| Maturity: | Aug. 5, 2015
|
| Coupon: | 9% if neither component falls to or below knock-in level during quarterly observation period; otherwise, 1% for that period and afterward; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If knock-in event occurs, par plus return of worst performing index, capped at par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 1,130.88 for Russell, $34.80 for oil fund
|
| Knock-in levels: | 735.072 for Russell, $22.62 for oil fund; 65% of initial levels
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 7
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.55%
|
| Cusip: | 22547QFC5
|
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