Published on 11/26/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $365,000 contingent coupon callable yield notes on three indexes
By Toni Weeks
San Luis Obispo, Calif., Nov. 26 – Credit Suisse AG, London Branch priced $365,000 of contingent coupon callable yield notes due Nov. 27, 2017 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon of 7% if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 65% knock-in level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes will be callable at par on any interest payment date.
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 and Euro Stoxx 50
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Amount: | $365,000
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Maturity: | Nov. 27, 2017
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Coupon: | 7%, payable quarterly if each index closes at or above its barrier level on observation date for quarter
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Price: | Par
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Payout at maturity: | If any index falls below knock-in level, par plus return; otherwise, par
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Call option: | At par plus coupon on any interest payment date beginning Feb. 26, 2015
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Initial levels: | 2,063.5 for S&P 500, 1,172.416 for Russell 2000 and 3,194.22 for Euro Stoxx 50
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Barrier/knock-in levels: | 1,341.275 for S&P 500, 762.0704 for Russell 2000 and 2,076.243 for Euro Stoxx 50; 65% of initial levels
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Pricing date: | Nov. 21
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Settlement date: | Nov. 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22547QX50
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