Published on 4/15/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.76 million 5.5% callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 15 – Credit Suisse AG, London Branch priced $1.76 million of 5.5% callable yield notes due April 22, 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 quarterly.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worse performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Callable yield notes
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $1.76 million
|
| Maturity: | April 22, 2019
|
| Coupon: | 5.5% per year, payable quarterly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus final coupon unless either index finishes below knock-in level, in which case full exposure to decline of least-performing index
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 2,082.42 for S&P, 1,129.926 for Russell
|
| Knock-in levels: | 1,353.573 for S&P, 734.4519 for Russell; 65% of initial levels
|
| Pricing date: | April 13
|
| Settlement date: | April 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.3%
|
| Cusip: | 22548Q3K9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
