Published on 7/31/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $545,000 contingent coupon callable yield notes tied to indexes
By Toni Weeks
San Luis Obispo, Calif., July 31 – Credit Suisse AG, London Branch priced $545,000 of contingent coupon callable yield notes due July 31, 2019 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 6% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that interest period.
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 any losses of the worst-performing index.
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: | $545,000
|
| Maturity: | July 31, 2019
|
| Coupon: | 6% annualized for each quarterly interest period that each index closes at or above barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to any losses of worst-performing index
|
| Call option: | At par on any interest payment date beginning Oct. 30
|
| Initial levels: | 2,093.25 for S&P, and 1,224.599 for Russell
|
| Barrier/knock-in levels: | 1,255.95 for S&P and 734.7594 for Russell, 60% of initial levels
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.21%
|
| Cusip: | 22546VGZ3
|
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