By Toni Weeks
San Luis Obispo, Calif., Aug. 29 – Credit Suisse AG, London Branch priced $791,000 of high/low coupon callable yield notes due Nov. 30, 2015 linked to the Russell 2000 index and the iShares MSCI Brazil Capped exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either underlying component closes below 65% of its initial level on any day during the life of the notes.
The coupon will be 8.5% unless a knock-in event occurs during any quarterly observation period, in which case the coupon for that interest period and each subsequent interest period will be 1%. Interest is payable quarterly.
The payout at maturity will be par unless a knock-in event occurs, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying components: | Russell 2000 index and iShares MSCI Brazil Capped ETF
|
| Amount: | $791,000
|
| Maturity: | Nov. 30, 2015
|
| Coupon: | 8.5% unless knock-in event occurs during any quarterly observation period, in which case coupon for that interest period and each subsequent interest period will be 1%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If knock-in event occurs, par plus return of worst-performing component, capped at par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Knock-in event: | Either underlying component closes below knock-in level on any day during life of notes
|
| Initial levels: | 1,175.17 for index and $51.98 for ETF
|
| Knock-in levels: | 763.861 for index and $33.787 for ETF, 65% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.3%
|
| Cusip: | 22547QRJ7
|
© 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.
