Published on 3/5/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.48 million high/low coupon callable yield notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., March 5 - Credit Suisse AG, London Branch priced $3.48 million of high/low coupon callable yield notes due Sept. 8, 2015 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlying index closes at or below its knock-in level, 70% of its initial level, during the life of the notes.
The coupon will be 8% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent interest period. Interest is payable quarterly.
The notes are callable at par on any interest payment date.
If the notes are not called, the payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest-performing underlying index, 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 indexes: | S&P 500 and Russell 2000
|
| Amount: | $3,477,000
|
| Maturity: | Sept. 8, 2015
|
| Coupon: | 8%, payable quarterly unless either index closes below knock-in level, in which case 1% per year for that and each subsequent interest period
|
| Price: | Par
|
| Payout at maturity: | If either underlying index closes at or below its knock-in level during life of notes, par plus return of lowest-performing underlying index, up to maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial index levels: | 1,859.45 for S&P 500 and 1,183.03 for Russell 2000
|
| Knock-in levels: | 11,301.6150 for S&P 500 and 828.1210 for Russell 2000, 70% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.9%
|
| Cusip: | 22547QH33
|
© 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.
