Published on 10/31/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $758,000 accelerated barrier notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., Oct. 31 – Credit Suisse AG, London Branch priced $758,000 of 0% accelerated barrier notes due Oct. 30, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 138% of the return of that index.
If the least-performing index finishes below its initial level and a knock-in event does not occur, the payout will be par. A knock-in event occurs if either index finishes at or below its knock-in level, 70% of its initial level.
If the least-performing index finishes below its initial level and a knock-in event occurs, investors will be fully exposed to the decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Accelerated barrier notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $758,000
|
| Maturity: | Oct. 30, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least-performing index finishes at or above initial level, par plus 138% of return of that index; if least-performing index finishes below initial level and knock-in event does not occur, par; if least-performing index finishes below initial level and knock-in event occurs, full exposure to decline of least-performing index
|
| Knock-in event: | Either index finishes at or below its knock-in level
|
| Initial index levels: | 1,985.05 for S&P 500 and 1,149.452 for Russell 2000
|
| Knock-in levels: | 1,389.535 for S&P 500 and 804.6164 for Russell 2000, 70% of initial levels
|
| Pricing date: | Oct. 28
|
| Settlement date: | Oct. 31
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4%
|
| Cusip: | 22547QTW6
|
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