Published on 12/24/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.34 million step-up contingent coupon callable notes on indexes
By Toni Weeks
San Luis Obispo, Calif., Dec. 24 – Credit Suisse AG, London Branch priced $1.34 million of step-up contingent coupon callable yield notes due Dec. 26, 2024 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 contingent coupon if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that interest period. The coupon will be 9% initially, stepping up to 11% on March 26, 2021 and to 13% on March 26, 2024. Interest is payable quarterly.
The payout at maturity will be par unless either index finishes below its 50% 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.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Step-up contingent coupon callable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $1,342,000
|
| Maturity: | Dec. 26, 2024
|
| Coupon: | Applicable coupon paid quarterly if each index closes at or above barrier level on observation date for that quarter; coupon is 9% initially, stepping up to 11% on March 26, 2021 and to 13% on March 26, 2024
|
| Price: | Par
|
| Payout at maturity: | If either index falls below knock-in level, par plus return of least-performing index; otherwise, par
|
| Call option: | At par plus coupon on any interest payment date beginning March 26, 2015
|
| Initial levels: | 3,154.91 for Euro Stoxx 50 and 1,201.861 for Russell 2000
|
| Barrier levels: | 2,366.1825 for Euro Stoxx 50 and 901.39575 for Russell 2000, 75% of initial levels
|
| Knock-in level: | 1,577.455 for Euro Stoxx 50 and 600.9305 for Russell 2000, 50% of initial levels
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 26
|
| Agent: | Incapital LLC
|
| Fees: | 4.4%
|
| Cusip: | 22547QYN0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
