Published on 7/24/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $519,000 contingent coupon callable yield notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., July 24 – Credit Suisse AG, London Branch priced $519,000 of contingent coupon callable yield notes due July 27, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.8% per year unless either index closes below its 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 barrier level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Beginning July 27, 2016, the notes will be callable at par on any interest payment date.
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: | $519,000
|
| Maturity: | July 27, 2020
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 6.8% per year unless either index closes below barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date from July 27, 2016 onward
|
| Initial index levels: | 2,102.15 for S&P 500 and 1,244.971 for Russell 2000
|
| Barrier levels: | 1,366.3975 for S&P 500 and 809.23115 for Russell 2000; 65% of initial levels
|
| Pricing date: | July 23
|
| Settlement date: | July 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22546VH82
|
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