Published on 7/23/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.2 million contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, July 23 – Credit Suisse AG, London Branch priced $2.2 million of contingent coupon callable yield notes July 25, 2017 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 contingent semiannual coupon at an annual rate of 5.75% if each index closes at or above its barrier level, 70% of the initial level, on an observation date for that period.
The notes will be callable at par plus any contingent coupon on any interest payment date beginning Jan. 26, 2015.
The payout at maturity will be par unless either index finishes at or below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $2,198,000
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| Maturity: | July 25, 2017
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| Coupon: | 5.75% annualized, payable semiannually if each index closes at or above its barrier level on observation date for that period
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| Price: | Par
|
| Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case par plus return of worst performing index
|
| Call option: | At par plus coupon on any interest payment date beginning Jan. 26, 2015
|
| Initial index levels: | 1,978.22 for S&P, 1,151.61 for Russell
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| Barrier levels: | 1,384.754 for S&P, 806.127 for Russell; 70% of initial levels
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| Pricing date: | July 18
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| Settlement date: | July 25
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.4%
|
| Cusip: | 22547QPU4
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