By Angela McDaniels
Tacoma, Wash., Aug. 29 - Credit Suisse AG, London Branch priced $5.17 million of callable yield daily range accrual notes due Aug. 30, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 6.75% for the first two years. Beginning Aug. 26, 2015, the interest rate will be 6.75% per year multiplied by the proportion of days on which both indexes close at or above their barrier levels, 50% of the initial levels. Interest is payable monthly.
Beginning Aug. 29, 2014, the notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Callable yield daily range accrual notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $5.17 million
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Maturity: | Aug. 30, 2023
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Coupon: | 6.75% for first two years; beginning Aug. 26, 2015, 6.75% per year multiplied by proportion of days on which both indexes close at or above their barrier levels; payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index finishes below barrier level, in which case full
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exposure to decline of worst-performing index
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Call option: | At par on any interest payment date from Aug. 29, 2014 onward
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Initial index levels: | 1,630.48 for S&P 500 and 1,013.49 for Russell 2000
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Barrier levels: | 815.24 for S&P 500 and 506.745 for Russell 2000; 50% of initial levels
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.18%
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Cusip: | 22547QA55
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