By Marisa Wong
Madison, Wis., Feb. 26 - Credit Suisse AG, London Branch priced $4.25 million of callable daily range accrual securities due Feb. 27, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at a rate equal to 6.3% per year multiplied by the proportion of days on which the index closes at or above the barrier level, which is 80% of the initial index level.
The payout at maturity will be par unless the final index level is less than the initial index level by more than 20%, in which case investors will lose 1% for every 1% that the index declines beyond 20%.
The notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Callable daily range accrual securities
|
| Underlying index: | Russell 2000
|
| Amount: | $4.25 million
|
| Maturity: | Feb. 27, 2020
|
| Coupon: | 6.3% per year multiplied by proportion of days on which index closes at or 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
|
| Initial index level: | 1,174.55
|
| Accrual barrier level: | 939.64, 80% of initial level
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22547QH82
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
