Credit Suisse moves up maturity, pricing for high/low coupon callable notes on fund, indexes

By Marisa Wong

Madison, Wis., Dec. 14 - Credit Suisse AG, Nassau Branch revised the maturity, pricing and settlement dates for its upcoming high/low coupon callable yield notes linked to the S&P 500 index, the Russell 2000 index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are due June 26, 2014, changed from June 30, 2014, and will now price on Dec. 20 and settle on Dec. 26. A previous 424B2 filing said the notes would price on Dec. 26 and settle on Dec. 31.

A knock-in event occurs if any underlying component falls to or below 60% of its initial level during the life of the notes.

If a knock-in event never occurs, the coupon will be between 8.25% and 9.25%, with the exact rate to be set at pricing. If a knock-in event occurs during any monthly observation period, the coupon for that interest period and each subsequent interest period is expected to be 1%. Interest is payable monthly.

The notes are callable at par on any interest payment date.

The payout at maturity will be par unless any component falls to or below its knock-in level during the life of the notes, in which case investors will receive par plus the return of the worst-performing component, up to a maximum payout of par.

Credit Suisse Securities (USA) LLC is the agent.

The Cusip number is 22546TN49.

© 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.