Published on 5/27/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $585,000 contingent coupon callable yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., May 27 – Credit Suisse AG, London Branch priced $585,000 of contingent coupon callable yield notes due May 27, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6.9% per year unless either index closes below its barrier level, 55% 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 the decline of the lesser-performing index.
Beginning Nov. 28, 2016, the notes are 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 and Russell 2000
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Amount: | $585,000
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Maturity: | May 27, 2021
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Coupon: | Each quarter, notes pay contingent coupon at rate of 6.9% per year unless either 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 decline of lesser-performing index
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Call option: | At par on any interest payment date beginning Nov. 28, 2016
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Initial index levels: | 2,076.06 for S&P 500 and 1,135.307 for Russell 2000
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Barrier levels: | 1,141.833 for S&P 500 and 624.41885 for Russell 2000; 55% of initial levels
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Pricing date: | May 24
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Settlement date: | May 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.7%
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Cusip: | 22548Q6Q3
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