Published on 1/29/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.7 million step-up contingent coupon callable notes on indexes
By Susanna Moon
Chicago, Jan. 29 – Credit Suisse AG, London Branch priced $2.7 million of step-up contingent coupon callable yield notes due Jan. 30, 2025 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 quarterly coupon at an annualized rate if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that quarter. The coupon will be 9% initially, stepping up to 10% on April 30, 2019 and to 12% on April 28, 2023.
The payout at maturity will be par unless the index finishes below its 50% knock-in level, in which case investors will be fully exposed to losses.
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 index and the Russell 2000 index
|
Amount: | $2,695,000
|
Maturity: | Jan. 30, 2025
|
Coupon: | If each index closes at or above barrier level on observation date for that quarter, 9% annualized initially, stepping up to 10% on April 30, 2019 and to 12% on April 28, 2023
|
Price: | Par
|
Payout at maturity: | If each index falls below knock-in level, par plus return, with full exposure to losses of worse performing index; otherwise, par
|
Call option: | At par plus coupon on any interest payment date beginning April 30, 2015
|
Initial level: | 3,372.58 for Stoxx, 1,194.658 for Russell
|
Coupon barrier: | 2529.435 for Stoxx, 895.994 for Russell, 75% of initial level
|
Knock-in level: | 1,686.29 for Stoxx, 597.329 for Russell, 50% of initial level
|
Pricing date: | Jan. 27
|
Settlement date: | Jan. 30
|
Agent: | Incapital LLC
|
Fees: | 4.14%
|
Cusip: | 22547QZA7
|
|
|
© 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.