By Susanna Moon
Chicago, Nov. 16 – Credit Suisse AG, London Branch priced $627,000 of contingent coupon callable yield notes due Nov. 13, 2020 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 pay a contingent quarterly coupon at an annual rate of 6.5% if each index closes at or above its barrier level, 60% 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 any losses of the worse performing index.
The notes are callable at par on any interest payment date after one year.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $627,000
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| Maturity: | Nov. 13, 2020
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| Coupon: | 6.5% annualized for each quarter that each index closes below barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to losses of worse performing index
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| Call option: | At par on any interest payment date beginning Nov. 16, 2016
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| Initial level: | 2,081.72 for S&P and 1,187.697 for Russell
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| Barrier levels: | 60% of initial levels
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| Pricing date: | Nov. 10
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| Settlement date: | Nov. 16
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22546VQ33
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