By Marisa Wong
Madison, Wis., April 14 - Credit Suisse AG, London Branch priced $2.36 million of contingent coupon callable yield notes due April 23, 2024 linked to 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 annual rate of 8.3% if the index closes at or above its barrier level, 80% 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 the index finishes at or below its 80% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying index: | Russell 2000
|
| Amount: | $2,355,000
|
| Maturity: | April 23, 2024
|
| Coupon: | 8.3%, payable quarterly if index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If index falls to or below barrier level, par plus return of worst performing underlying index; otherwise, par
|
| Call option: | At par plus coupon on any interest payment date
|
| Initial level: | 869.97
|
| Barrier level: | 695.976, 80% of initial levels
|
| Pricing date: | April 10
|
| Settlement date: | April 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.55%
|
| Cusip: | 22547QM29
|
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