By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – Credit Suisse AG, London Branch priced $321,000 of contingent coupon callable yield notes due Jan. 29, 2024 linked to the lesser performing of the Consumer Discretionary Select Sector SPDR Fund and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual contingent coupon at an annual rate of 7.5% if each fund closes at or above its coupon barrier, 70% of its initial price, on the observation date for that period.
Credit Suisse may redeem the notes at par plus the coupon on any semiannual early redemption date.
The payout at maturity will be par unless any fund finishes below its 70% knock-in price, in which case investors will be fully exposed to any losses of the lesser-performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying ETFs: | Consumer Discretionary Select Sector SPDR Fund and the Technology Select Sector SPDR Fund
|
| Amount: | $321,000
|
| Maturity: | Jan. 29, 2024
|
| Coupon: | 7.5% per year, payable semiannually if each fund closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below its knock-in price, in which case full exposure to the losses of the lesser-performing fund
|
| Call option: | At par plus coupon on any semiannual early redemption date
|
| Initial prices: | $170.10 for Consumer and $132.83 for Technology
|
| Coupon barrier prices: | $119.07 for Consumer and $92.981 for Technology, 70% of initial prices
|
| Knock-in prices: | $119.07 for Consumer and $92.981 for Technology, 70% of initial prices
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22552X3D3
|
|
|
© 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.
