Published on 12/22/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.84 million contingent coupon callable notes on indexes, ETF
By Jennifer Chiou
New York, Dec. 22 – Credit Suisse AG, London Branch priced $1,835,000 of contingent coupon callable yield notes due Dec. 26, 2017 linked to the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 8.5% annualized if each component closes at or above its barrier level, 55% of the initial level, on any quarterly observation date.
The notes will be callable at par plus the contingent coupon on any interest payment date beginning on March 23, 2015.
The payout at maturity will be par unless any component finishes below its 55% knock-in level, in which case investors will be fully exposed to any losses of the worst-performing component.
Barclays is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying components: | Euro Stoxx 50 index, Russell 2000 index, iShares MSCI Emerging Markets ETF
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| Amount: | $1,835,000
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| Maturity: | Dec. 26, 2017
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| Coupon: | 8.5% annualized, payable quarterly if each component closes at or above its barrier level on observation date for quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any component finishes below its 55% knock-in level, in which case investors will be fully exposed to any losses of the worst-performing component
|
| Call option: | On any contingent coupon payment date beginning March 23, 2015
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| Initial levels: | 3,153.77 for Euro Stoxx, 1,192.158 for Russell, $38.57 for iShares EM
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| Barrier/knock-in levels: | 1,734.574 for Euro Stoxx, 655.687 for Russell, $21.214 for iShares EM, 55% of initial levels
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Placement agent: | Barclays
|
| Fees: | 1.75%
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| Cusip: | 22547QZK5
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