By Wendy Van Sickle
Columbus, Ohio, July 5 – Credit Suisse AG, London Branch priced $3.75 million of callable daily range accrual securities due Dec. 29, 2023 linked to the performance of the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will accrue at 7.51% for each day that the index closes at or above the accrual barrier, 80% of the initial index level. Interest will be payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for every 1% drop beyond 20%.
Beginning Dec. 30 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: | Callable daily range accrual securities
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| Underlying index: | Russell 2000
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| Amount: | $3.75 million
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| Maturity: | Dec. 29, 2023
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| Coupon: | 7.51% annualized for each day that index closes at or above barrier level; payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 20%, in which case exposure to losses beyond 20%
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| Call option: | At par on any interest payment date beginning Dec. 30, 2016
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| Initial index level: | 1,089.646
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| Barrier level: | 871.7168, 80% of initial level
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 4%
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| Cusip: | 22548QAM7
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