Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.20 million contingent coupon callable notes on Russell, S&P
New York, June 10 – Credit Suisse AG, London Branch priced $1.20 million of contingent coupon callable yield notes due June 12, 2017 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 7.25% per year unless either index closes below its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index closes below its 65% knock-in level during the life of the notes, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes are callable at par on any contingent coupon payment date beginning Dec. 12.
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: | $1,204,000
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| Maturity: | Dec. 12, 2017
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| Coupon: | 7.25% per year, payable quarterly unless either index closes below barrier level on observation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless either index finishes below knock-in level during life of the notes, in which case full exposure to decline of lesser performing index
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| Call option: | At par on any contingent coupon payment date beginning Dec. 12
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| Initial index levels: | 2,112.13 for S&P 500 and 1,179.973 for Russell 2000
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| Barrier/knock-in levels: | 1,372.8845 for S&P 500 and 766.98245 for Russell 2000; 65% of initial levels
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| Pricing date: | June 7
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| Settlement date: | June 10
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.6%
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| Cusip: | 22548QA62
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