Published on 4/25/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse updates barrier/knock-in levels for $775,000 contingent coupon notes
By Tali Rackner
Norfolk, Va., April 25 – Credit Suisse AG, London Branch changed the coupon barrier/knock-in levels for its recently priced $775,000 of contingent coupon callable yield notes due March 28, 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 contingent quarterly coupon at an annual rate of 18.5% if each index closes above its coupon barrier level, 65% of its initial price, on the observation date for that quarter.
The payout at maturity will be par unless each index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses.
The notes will be callable at par on any interest payment date after Sept. 28.
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: | $775,000
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| Maturity: | March 28, 2019
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| Contingent coupon: | 18.5% per year, payable quarterly if each index closes above its coupon barrier level on the observation date for that month
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| Price: | 100.3% of par
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| Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case full exposure to any losses
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| Call option: | At par on any interest payment date after Sept. 28
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| Initial levels: | 2,049.58 for S&P, 1,101.673 for Russell
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| Barrier/knock-in levels: | 1,332.227 for S&P, 716.08745 for Russell, 65% of initial levels
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| Pricing date: | April 18
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| Settlement date: | April 25
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22548Q4G7
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