By Susanna Moon
Chicago, Nov. 3 – Credit Suisse AG, London Branch priced $2 million of callable daily range accrual securities due Oct. 31, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 6.5% annualized for each day that the index closes at or above the 50% barrier level. Interest is payable monthly.
The payout at maturity will be par unless the index finishes below the 50% barrier level, in which case investors will be fully exposed to any losses.
The notes will be callable at par on any interest payment date beginning on Oct. 30, 2015.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Callable daily range accrual securities
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| Underlying index: | Russell 2000
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| Amount: | $2 million
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| Maturity: | Oct. 31, 2024
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| Coupon: | 6.5% annualized for each day that index closes at or above barrier level; payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 50%, in which case full exposure to any losses
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| Call option: | At par on any interest payment date beginning on Oct. 30, 2015
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| Initial level: | 1,149.452
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| Barrier level: | 574.726, 50% of initial level
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| Pricing date: | Oct. 28
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| Settlement date: | Oct. 31
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| Placement agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.75%
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| Cusip: | 22547QVP8
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