Published on 10/2/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.72 million contingent coupon callable yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Oct. 2 – Credit Suisse AG, London Branch priced $2.72 million of contingent coupon callable yield notes due Sept. 30, 2025 linked to the Euro Stoxx 50 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 10% per year unless either index closes below its coupon 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 knock-in level, 50% of its initial 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.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $2,715,000
|
| Maturity: | Sept. 30, 2025
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 10% per year unless either index closes below coupon 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: | 3,113.16 for Euro Stoxx 50 and 1,122.789 for Russell 2000
|
| Coupon barriers: | 2,179.212 for Euro Stoxx 50 and 785.9523 Russell 2000; 70% of initial levels
|
| Knock-in levels: | 1,556.58 for Euro Stoxx 50 and 561.3945 for Russell 2000; 50% of initial levels
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.16%
|
| Cusip: | 22546VLF1
|
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