By Jennifer Chiou
New York, Nov. 23 - Credit Suisse AG, Nassau Branch priced $163,000 of high/low coupon callable yield notes due Nov. 28, 2012 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either component falls to or below 65% of its initial level on any day during the life of the notes.
If a knock-in event does not occur during a monthly observation period, the coupon will be an annualized 10% for that period. If a knock-in event occurs during a monthly observation period, the coupon for that interest period and each subsequent monthly interest period will be 1%. Interest is payable monthly.
The payout at maturity will be par unless either component falls to or below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the worse-performing component, up to a maximum payout of par.
The notes are callable at par on any interest payment date beginning on Feb. 28, 2012.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $163,000
|
| Maturity: | Nov. 28, 2012
|
| Coupon: | 10% if either index never falls to or below knock-in level during monthly observation period; otherwise, 1% for that period and afterward; payable monthly
|
| Price: | Par
|
| Payout at maturity: | If either index falls to or below its knock-in level during the life of the notes, par plus the return of the worse-performing component, capped at par; otherwise, par
|
| Call option: | At par on any interest payment date beginning on Feb. 28, 2012
|
| Initial levels: | 1,188.04 for S&P 500, 696.26 for Russell 2000
|
| Knock-in levels: | 772.226 for S&P 500, 452.569 for Russell; 65% of initial levels
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22546TGR6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
