Published on 5/14/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $9.57 million contingent coupon callable notes on S&P, Russell
By Marisa Wong
Madison, Wis., May 14 – Credit Suisse AG, London Branch priced $9.57 million of contingent coupon callable yield notes due May 15, 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 8.5% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its knock-in level, 65% of its initial level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are callable at par on any interest payment date beginning Nov. 16, 2015.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $9,573,000
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| Maturity: | May 15, 2018
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| Coupon: | 8.5% 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 Nov. 16, 2015
|
| Initial levels: | 1,233.129 for Russell, 2,099.12 for S&P
|
| Knock-in/barrier levels: | 801.53385 for Russell, 1,364.428 for S&P; 65% of initial levels
|
| Pricing date: | May 12
|
| Settlement date: | May 15
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.6%
|
| Cusip: | 22546VDF0
|
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