Published on 9/23/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $608,000 contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, Sept. 23 – Credit Suisse AG, London Branch priced $608,000 of contingent coupon callable yield notes due March 24, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent coupon at an annual rate of 6.4% if each index closes at or above its barrier level, 65% of the initial level, on any quarterly observation date.
The notes will be callable at par plus the contingent coupon on any quarterly interest payment date beginning March 24, 2015.
The payout at maturity will be par unless either index finishes below its 65% 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
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $608,000
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| Maturity: | March 24, 2021
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| Coupon: | 6.4%, payable quarterly if each index closes at or above its barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | If any underlying index falls below knock-in level, par plus return of worst performing underlying index; otherwise, par
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| Call option: | At par plus coupon on any quarterly interest payment date beginning March 24, 2015
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| Initial levels: | 2,010.40 for S&P, 1,146.919 for Russell
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| Barrier levels: | 1,306.76 for S&P, 745.50 for Russell; 65% of initial levels
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.5%
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| Cusip: | 22547QRD0
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