Published on 7/5/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.92 million 7% callable yield notes linked to fund, two indexes
By Toni Weeks
San Diego, July 5 - Credit Suisse AG, Nassau Branch priced $1.92 million of 7% annualized callable yield notes due Jan. 7, 2013 linked to the S&P 500 index, the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any interest payment date beginning Aug. 6.
The payout at maturity will be par unless any component falls to or below its knock-in level - 60% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying components: | S&P 500 index, Russell 2000 index and Market Vectors Gold Miners ETF
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Amount: | $1,919,000
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Maturity: | Jan. 7, 2013
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Coupon: | 7%, payable monthly
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Price: | Par
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Payout at maturity: | Par, unless any component falls to or below 60% of its initial level during life of notes, in which case par plus return of worst-performing component, maximum payout of par
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Initial levels: | 1,365.51 for S&P 500, 807.94 for Russell and $44.76 for gold fund
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Knock-in levels: | 819.306 for S&P 500, 484.764 for Russell and $26.856 for gold fund, 60% of initial levels
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Call option: | At par on any interest payment date beginning Aug. 6
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Pricing date: | July 2
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Settlement date: | July 6
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 22546TVA6
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