Published on 4/30/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.75 million callable daily range accrual notes on Russell, Euro Stoxx
By Susanna Moon
Chicago, April 30 - Credit Suisse AG, London Branch priced $5.75 million of callable daily range accrual securities due April 30, 2024 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 8% for each day each index closes at or above the 60% coupon barrier level, payable monthly.
The payout at maturity will be par unless either index finishes below the 50% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes will be callable at par on any interest payment date after one year.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Callable daily range accrual securities
|
| Underlying indexes: | Russell 2000, Euro Stoxx 50
|
| Amount: | $5.75 million
|
| Maturity: | April 30, 2024
|
| Coupon: | 8% annualized for each day that index closes at or above coupon barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to any losses of worse performing index
|
| Call option: | At par on any interest payment date beginning April 30, 2015
|
| Initial index levels: | 1,123.03 for Russell, 3,147.4 for Euro Stoxx
|
| Coupon barrier levels: | 673.818 for Russell, 1,888.44 for Euro Stoxx, 60% of initial levels
|
| Trigger levels: | 561.515 for Russell, 1,573.7 for Euro Stoxx, 50% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22547QLT1
|
© 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.
