Published on 2/26/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $17.78 million contingent coupon callable yield notes on two indexes
By Jennifer Chiou
New York, Feb. 26 – Credit Suisse AG, London Branch priced $17,782,000 of contingent coupon callable yield notes due Feb. 27, 2018 linked to the S&P 500 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 annual rate of 7.25% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes will be callable on any contingent coupon payment date beginning on Feb. 29, 2016.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $17,782,000
|
| Maturity: | Feb. 27, 2018
|
| Coupon: | 7.25% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case par plus return of worst-performing index with full exposure to losses
|
| Call option: | On any contingent coupon payment date beginning on Feb. 29, 2016
|
| Initial levels: | 2,115.48 for S&P, 1,233.975 for Russell
|
| Barrier levels: | 1,269.288 for S&P, 740.385 for Russell; 60% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.5%
|
| Cusip: | 22546V5N2
|
|
|
© 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.
