Published on 1/27/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.17 million contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Credit Suisse AG, London Branch priced $5.17 million of 8.5% contingent coupon callable yield notes due Jan. 29, 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 semiannual contingent coupon at a rate of 8.5% per year unless either index closes below its barrier level, 70% of the initial index level, on the observation date for that period.
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.
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
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $5,174,000
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Maturity: | Jan. 29, 2019
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Coupon: | 8.5%, payable semiannually if both indexes close at or above 70% of their initial levels on the observation date for that period
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Price: | Par of $1,000
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Payout at maturity: | Par unless either index closes below 70% of its initial level, in which case full exposure to decline of lesser-performing index
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Call: | At par on any interest payment date
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Initial level: | 1,906.90 for S&P 500, 1,020.66 for Russell 2000
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Barrier level: | 1,334.83 for S&P 500, 714.462 for Russell 2000, 70% of initial levels
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Pricing date: | Jan. 22
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Settlement date: | Jan. 27
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Agents: | Credit Suisse Securities (USA) LLC
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Fees: | 2.3%
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Cusip: | 22546VUT1
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