Published on 3/4/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $727,000 contingent coupon callable yield notes on two indexes
By Marisa Wong
Madison, Wis., March 4 – Credit Suisse AG, London Branch priced $727,000 of contingent coupon callable yield notes due March 4, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarterly interest period, the notes will pay a contingent coupon of 6.55% per year if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes will be callable at par on any interest payment date beginning on March 4, 2016.
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 and Russell 2000
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| Amount: | $727,000
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| Maturity: | March 4, 2021
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| Coupon: | 6.55% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case investors will be fully exposed to decline of least-performing index
|
| Call option: | On any contingent coupon payment date beginning on March 4, 2016
|
| Initial levels: | 2,104.50 for S&P, 1,233.368 for Russell
|
| Barrier levels: | 1,367.925 for S&P, 801.6892 for Russell; 65% of initial levels
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| Knock-in levels: | 1,262.70 for S&P 500, 740.0208 for Russell; 60% of initial levels
|
| Pricing date: | Feb. 27
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| Settlement date: | March 4
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22546V5G7
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