Published on 12/18/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $637,000 contingent coupon callable notes on S&P 500, Russell
By Jennifer Chiou
New York, Dec. 18 – Credit Suisse AG, London Branch priced $637,000 of contingent coupon callable yield notes due Dec. 21, 2020 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 quarterly coupon at an annual rate of 6.65% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst-performing index.
The notes will be callable on any contingent coupon payment date beginning on Dec. 21, 2015.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London 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: | $637,000
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Maturity: | Dec. 21, 2020
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Coupon: | 6.65% annualized, payable quarterly if each index closes at or above its barrier level on observation date for quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its knock-in level, in which case investors will be fully exposed to any losses of the worst-performing index
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Call option: | On any contingent coupon payment date beginning Dec. 21, 2015
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Initial levels: | 1,972.74 for S&P, 1,139.37 for Russell
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Barrier/knock-in levels: | 1,282.281 for S&P, 740.5905 for Russell; 65% of initial levels
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Pricing date: | Dec. 16
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Settlement date: | Dec. 19
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.5%
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Cusip: | 22547QZE9
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