Published on 3/26/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3 million contingent coupon autocallables linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., March 26 – Credit Suisse AG, London Branch priced $3 million of contingent coupon autocallable yield notes due March 27, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at a rate of 7.75% if the index closes at or above its coupon barrier level, 75% of its initial level, on the observation date for that interest period.
The notes will be called at par if the index closes at or above its initial level on any semiannual trigger observation date.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying index: | S&P 500
|
| Amount: | $3 million
|
| Maturity: | March 27, 2020
|
| Coupon: | 7.75%, payable semiannually if index closes at or above its barrier level on observation date for that interest period
|
| Price: | Par
|
| Payout at maturity: | If index falls below knock-in level, par plus index return, with full exposure to losses; otherwise, par
|
| Call: | At par plus coupon if index closes at or above initial level on any semiannual interest payment date
|
| Initial level: | 2,091.50
|
| Coupon barrier/knock-in: | 1,568.625, 75% of initial level
|
| Pricing date: | March 24
|
| Settlement date: | March 27
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | None
|
| Cusip: | 22546V7G5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
