Published on 3/26/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $6.69 million contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, March 26 - Credit Suisse AG, London Branch priced $6.69 million of contingent coupon callable yield notes due March 26, 2024 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above its coupon barrier level, 65% of the initial level, on the observation date for that quarter.
The notes will be callable at par plus the contingent coupon on any quarterly interest payment.
The payout at maturity will be par unless any index finishes at or below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $6,693,000
|
| Maturity: | March 26, 2024
|
| Coupon: | 10%, payable quarterly if each index closes at or above its coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If any underlying component falls to or below trigger level, par plus return of worst performing underlying index; otherwise, par
|
| Call option: | At par plus coupon on any interest payment date
|
| Initial levels: | 1,866.52 for S&P, 1,193.73 for Russell, 3,096.49 for Euro Stoxx
|
| Coupon barrier levels: | 1,213.238 for S&P, 775.9245 for Russell, 2,012.7185 for Euro Stoxx; 65% of initial levels
|
| Knock-in levels: | 1,119.912 for S&P, 716.238 for Russell, 1,857.894 for Euro Stoxx; 60% of initial levels
|
| Pricing date: | March 21
|
| Settlement date: | March 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22547QKU9
|
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