By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Credit Suisse AG, London Branch priced $2.43 million of contingent coupon callable yield notes due Aug. 31, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 7% if the index closes at or above its barrier level, 70% of its initial level, on a monthly observation date.
The notes may be called on any quarterly call observation date after one year.
The payout at maturity will be par unless the index finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses.
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 index: | Russell 2000
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Amount: | $2,428,000
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Maturity: | Aug. 31, 2027
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Coupon: | 7% per year, payable monthly if index closes at or above its barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless index finishes below its knock-in level, in which case full exposure to any losses
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Call option: | At par on any quarterly call observation date after a year
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Initial level: | 1,382.23
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Barrier: | 967.5603; 70% of initial level
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Knock-in level: | 691.12; 50% of initial level
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.467%
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Cusip: | 22550BEM1
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