By Marisa Wong
Madison, Wis., March 19 - Credit Suisse AG, Nassau Branch priced $8.82 million of contingent coupon callable yield notes due March 22, 2016 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon of 6.34% per year if each index closes at or above the 70% barrier level on the observation date for that semiannual period. Otherwise, no coupon will be paid that period.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless either index finishes at or below the 70% knock-in level, in which case investors will receive par plus the return of the worse performing component.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $8,824,000
|
| Maturity: | March 22, 2016
|
| Coupon: | 6.34% per year if each index closes at or above barrier level on observation date for that semiannual period; otherwise, no coupon will be paid that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case par plus return of worse performing component
|
| Call option: | At par plus the contingent coupon on any interest payment date
|
| Initial index levels: | 1,560.70 S&P 500 and 952.48 for Russell 2000
|
| Barrier/knock-in levels: | 1,092.49 for S&P 500 and 666.736 for Russell 2000; 70% of initial levels
|
| Pricing date: | March 15
|
| Settlement date: | March 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.85%
|
| Cusip: | 22546T2K6
|
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