Published on 3/21/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 5% callable yield notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., March 21 – Credit Suisse AG, London Branch priced $500,000 of 5% callable yield notes due March 25, 2019 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes are callable at par on any interest payment date.
If the notes are not called, the payout at maturity will be par unless either index finishes below its knock-in level, 57% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Callable yield notes
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Underlying indexes: | S&P 500 and the Russell 2000
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Amount: | $500,000
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Maturity: | March 25, 2019
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Coupon: | 5%, payable semiannually
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its knock-in level, in which case full exposure to decline of worse-performing index
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Call option: | At par on any interest payment date
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Initial levels: | 2,040.59 for S&P 500 and 1,091.253 for Russell 2000
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Knock-in levels: | 1,163.1363 for S&P 500 and 622.01421 for Russell 2000; 57% of initial levels
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Pricing date: | March 17
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Settlement date: | March 24
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.4%
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Cusip: | 22546VZA7
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