By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Dec. 31, 2019 linked to the lesser performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 12.65% if each index closes at or above its coupon barrier level, 70% of its initial level, on a related observation date.
The notes will be called at par if each index closes above its initial level on any quarterly autocall observation date.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% knock-in level any day during the life of the notes, in which case investors will be fully exposed to any losses of the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying indexes: | Russell 2000 and S&P 500
|
Amount: | $1 million
|
Maturity: | Dec. 31, 2019
|
Coupon: | 12.65% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes below initial level and either index ever closes below knock-in level, in which case full exposure to any losses of the lesser-performing index
|
Call: | At par if each index closes above initial level on any quarterly autocall observation date
|
Initial levels: | 2,467.7 for S&P and 1,329.811 for Russell
|
Coupon barriers: | 1,727.39 for S&P and 930.8677 for Russell; 70% of initial levels
|
Knock-in levels: | 1,727.39 for S&P and 930.8677 for Russell; 70% of initial levels
|
Pricing date: | Dec. 26
|
Settlement date: | Dec. 31
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.35%
|
Cusip: | 22551LQT0
|
|
© 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.