Published on 9/1/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $985,000 contingent coupon callable yield notes on indexes
By Marisa Wong
Morgantown, W.Va., Sept. 1 – Credit Suisse AG, London Branch priced $985,000 of contingent coupon callable yield notes due Aug. 29, 2025 linked to the Russell 2000 index and the Euro Stoxx 50 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 9.5% per year unless either index closes below its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 50% knock-in level, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes are callable at par on any interest payment date.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $985,000
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| Maturity: | Aug. 29, 2025
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 9.5% 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 knock-in level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date
|
| Initial index levels: | 1,132.188 for Russell, 3,170.73 for Euro Stoxx
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| Barrier levels: | 792.5316 for Russell, 2,219.511 for Euro Stoxx; 70% of initial levels
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| Knock-in levels: | 566.094 for Russell, 1,585.365 for Euro Stoxx; 50% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | Incapital LLC
|
| Fees: | 4.5%
|
| Cusip: | 22546VJE7
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