Published on 8/29/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.19 million annual reset coupon buffered notes on Russell
By Marisa Wong
Madison, Wis., Aug. 29 – Credit Suisse AG, London Branch priced $1.19 million of annual reset coupon buffered notes due Aug. 31, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable annually and will equal the 5% maximum digital percentage if the index’s return for that year is positive or zero. Otherwise, the coupon will equal the 1.75% minimum digital percentage. The index’s return will be measured from its level a year earlier.
The payout at maturity will be par unless the final index level is less than 80% of the initial index level, in which case investors will lose 1% for every 1% that the index declines beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Annual reset coupon buffered notes
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Underlying index: | Russell 2000
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Amount: | $1,191,000
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Maturity: | Aug. 31, 2020
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Coupon: | 5% if year-over-year index return is positive or zero, otherwise 1.75%; payable annually
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Price: | Par
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Payout at maturity: | Par if final index level is at least 80% of initial level; otherwise, 1% loss for every 1% that index declines beyond 20%
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Initial index level: | 1,172.71
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Pricing date: | Aug. 27
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Settlement date: | Aug. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.8%
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Cusip: | 22547QRK4
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