Published on 4/29/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.89 million accelerated barrier notes linked to S&P, Russell
By Marisa Wong
Madison, Wis., April 29 - Credit Suisse AG, London Branch priced $1.89 million of 0% accelerated barrier notes due April 30, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if the final level of either index is less than or equal to its knock-in level, 65% of its initial level.
The payout at maturity will be par plus the underlying return of the lowest performing index.
If an index's final level is greater than or equal to its initial level, its underlying return will be 132% of the index return. If an index's final level is less than its initial level and a knock-in event has not occurred, its underlying return will be zero. If an index's final level is less than its initial level and a knock-in event has occurred, its underlying return will be equal to the index return.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Accelerated barrier notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1.89 million
|
| Maturity: | April 30, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus underlying return of lowest performing index
|
| Underlying return: | If index's final level is greater than or equal to initial level, 132% of index return; if index's final level is less than initial level and knock-in event has not occurred, zero; if index's final level is less than initial level and knock-in event has occurred, equal to index return
|
| Knock-in event: | Final level of either index is less than or equal to knock-in level
|
| Initial index levels: | 1,863.40 for S&P 500 and 1,123.03 for Russell 2000
|
| Knock-in level: | 1,211.21 for S&P 500 and 729.9695 Russell 2000, 65% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4%
|
| Cusip: | 22547QLB0
|
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