By Angela McDaniels
Tacoma, Wash., June 10 – Credit Suisse AG, London Branch priced $1.35 million of contingent coupon callable yield notes due Aug. 31, 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 7.75% per year unless either index closes below its knock-in level, 75% of its initial level, on the observation date for that quarter.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its knock-in level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1.35 million
|
| Maturity: | Aug. 31, 2017
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 7.75% per year unless either index closes below knock-in level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par on any interest payment date
|
| Initial index levels: | 2,090.54 for S&P 500 and 1,141.024 for Russell 2000
|
| Knock-in levels: | 1,567.905 for S&P 500 and 855.7680 for Russell 2000; 75% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.45%
|
| Cusip: | 22548Q5H4
|
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