Published on 4/24/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.79 million contingent coupon callable notes on S&P, Russell
By Susanna Moon
Chicago, April 24 - Credit Suisse AG, Nassau Branch priced $5.79 million of contingent coupon callable yield notes due April 26, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 6.25% if each index closes at or above the 70% barrier level on the observation date for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date beginning Oct. 28, 2013.
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
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $5,794,000
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Maturity: | April 26, 2016
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Coupon: | 6.25% per year if each index closes at or above barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case par plus return of worse performing component
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Call option: | At par plus the contingent coupon on any interest payment date beginning Oct. 28, 2013
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Initial index levels: | 1,555.25 S&P and 912.50 for Russell
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Knock-in levels: | 1,088.675 S&P and 638.75 for Russell; 70% of initial levels
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Pricing date: | April 19
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Settlement date: | April 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.85%
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Cusip: | 22546T4P3
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