Published on 2/6/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $671,000 contingent coupon callable yield notes on two indexes
By Jennifer Chiou
New York, Feb. 6 - Credit Suisse AG, London Branch priced $671,000 of contingent coupon callable yield notes due Aug. 7, 2019 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 at an annualized rate of 6.75% if each index 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 either index finishes at or below its barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are callable at par plus the contingent coupon on any interest payment beginning on Aug. 7, 2014.
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: | $671,000
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Maturity: | Aug. 7, 2019
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Coupon: | 6.75% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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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 full exposure to losses of worst performing index
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Call option: | At par plus contingent coupon on any interest payment date beginning Aug. 7, 2014
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Initial index levels: | 1,755.20 for S&P, 1,102.84 for Russell
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Barrier levels: | 1,140.88 for S&P, 716.846 for Russell; 65% of initial levels
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Pricing date: | Feb. 4
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Settlement date: | Feb. 7
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.5%
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Cusip: | 22547QG34
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