By Marisa Wong
Morgantown, W.Va., Sept. 9 – Credit Suisse AG, London Branch priced $1.02 million of contingent coupon callable yield notes due Sept. 20, 2017 linked to the lesser performing of 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 11% per year unless either index closes below its knock-in level, 80% of its initial level, on the observation date for that quarter.
The notes will be 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.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| 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: | $1.02 million
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| Maturity: | Sept. 20, 2017
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 11% per year unless either index closes below knock-in 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 knock-in 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
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| Initial index levels: | 2,179.98 for S&P 500 and 1,251.831 for Russell 2000
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| Knock-in levels: | 1,743.98 for S&P 500 and 1,001.465 | for Russell 2000; 80% of initial levels
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| Pricing date: | Sept. 2
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| Settlement date: | Sept. 8
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| Agent: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 22548QGS8
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