Published on 12/16/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.16 million contingent coupon callable notes on indexes, ETF
By Marisa Wong
Madison, Wis., Dec. 16 - Credit Suisse AG, London Branch priced $2.16 million of contingent coupon callable yield notes due Sept. 19, 2016 linked to the S&P 500 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.8% if each component closes at or above its 65% coupon barrier level on a quarterly observation date.
The payout at maturity will be par unless any component finishes below its knock-in level, 65% of its initial level, in which case investors will receive par plus the return of the lowest-performing component.
The notes will be callable at par on any interest payment date other than the final date.
Barclays is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | S&P 500 index, Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
|
| Amount: | $2.16 million
|
| Maturity: | Sept. 19, 2016
|
| Coupon: | 8.8% per year, payable quarterly if each component closes at or above its 65% coupon barrier level on a quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
|
| Call option: | At par on any interest payment date other than final date
|
| Initial levels: | 1,775.50 for S&P, 2,928.12 for Euro Stoxx, $40.84 for ETF
|
| Barrier/knock-in levels: | 1,154.0750 for S&P, 1,903.2780 for Euro Stoxx, $26.5460 for ETF; 65% of initial levels
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Agent: | Barclays (placement)
|
| Fees: | 1.75%
|
| Cusip: | 22547QEQ5
|
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