Published on 8/21/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.57 million high/low coupon callable yield notes on indexes, fund
By Susanna Moon
Chicago, Aug. 21 - Credit Suisse AG, London Branch priced $4.57 million of high/low coupon callable yield notes due Aug. 22, 2014 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.
A knock-in event will occur if any underlying component closes at or below its 58% knock-in level during the life of the notes.
The coupon will be 8.5% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent quarterly interest period. Interest is payable quarterly.
The payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest performing underlying component, up to a maximum payout of par.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | High/low coupon callable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $4,571,000
|
| Maturity: | Aug. 22, 2014
|
| Coupon: | 8.5% per year unless any underlying component closes at or below its knock-in level during the life of the notes, in which case coupon will be 1% from then on; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If any underlying component closes at or below its knock-in level during life of notes, par plus return of lowest-performing underlying component, up to maximum payout of par; otherwise, par
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 1,646.06 for S&P, 1,013.25 for Russell and $29.23 for gold fund
|
| Knock-in levels: | 954.7148 for S&P, 587.685 for Russell and $16.9534 for gold fund; 58% of initial levels
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22547Q6Z4
|
© 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.
