Published on 9/24/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.8 million callable yield notes on two indexes
By Jennifer Chiou
New York, Sept. 24 – Credit Suisse AG, London Branch priced $1.8 million of callable yield notes due Sept. 26, 2016 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 5.4% per year, payable quarterly.
The notes will be callable at par plus the on any quarterly interest payment date beginning on Dec. 16, 2014.
The payout at maturity will be par unless either index finishes below its 70% 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
|
| Issue: | Callable yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $1.8 million
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| Maturity: | Sept. 26, 2016
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| Coupon: | 5.4%, payable quarterly
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| Price: | Par
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| Payout at maturity: | If either underlying index falls below knock-in level, par plus return of worst-performing index; otherwise, par
|
| Call option: | At par plus coupon on any quarterly interest payment date beginning Dec. 16
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| Initial levels: | 3,273.25 for Euro Stoxx, 1,146.919 for Russell
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| Knock-in levels: | 2,291.275 for Euro Stoxx, 802.8433 for Russell; 70% of initial levels
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.85%
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| Cusip: | 22547QSZ0
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