Published on 1/27/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.95 million 9.5% contingent coupon callable yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Credit Suisse AG, Nassau Branch priced $2.95 million of 9.5% contingent coupon callable yield notes due Jan. 28, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.5% if each index closes at or above 55% of its initial level on the observation date for that quarter.
The notes are callable at par on any quarterly payment date.
The payout at maturity will be par unless any index finishes below its 55% knock-in level, in which case investors will be fully exposed to the decline of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $2.95 million
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| Maturity: | Jan. 28, 2019
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| Coupon: | 9.5%, payable quarterly if each index closes at or above 55% of its initial level on the observation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any index closes below 55% of its initial level, in which case full exposure to decline of least performing index
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| Call: | At par on any interest payment date
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| Initial level: | 1,877.08 for S&P 500, 997.373 for Russell 2000, 3,001.78 for Euro Stoxx 50
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| Coup barrier/knock-in level: | 1,032.394 for S&P 500, 548.55515 for Russell 2000, 1,650.979 for Euro Stoxx 50, 55% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.6%
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| Cusip: | 22546VUZ7
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