Published on 2/22/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.79 million high/low coupon notes on two indexes, oil fund
By Marisa Wong
Madison, Wis., Feb. 22 - Credit Suisse AG, Nassau Branch priced $2.79 million of high/low coupon callable yield notes due Feb. 21, 2013 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.
A knock-in event occurs if either index or the fund falls to or below 60% of its initial level on any day during a quarterly observation period.
If a knock-in event never occurs, the coupon will be 11%. Otherwise, the coupon for that interest period and each subsequent interest period will be 1%. Interest is payable quarterly.
The notes are callable on any interest payment date.
The payout at maturity will be par unless a knock-in event occurs, in which case the payout will be par plus the return of the worst-performing component, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
|
Issue: | High/low coupon callable yield notes
|
Underlying components: | S&P 500 index, Russell 2000 index and the United States Oil Fund, LP
|
Amount: | $2,788,000
|
Maturity: | Feb. 21, 2013
|
Coupon: | 11% if neither index or the fund falls to or below knock-in level during quarterly observation period; otherwise, 1% for that period and afterward; payable quarterly
|
Price: | Par
|
Payout at maturity: | If knock-in event occurs, par plus the return of the worst-performing component, capped at par; otherwise, par
|
Call option: | On any interest payment date
|
Initial levels: | 1,361.23 for S&P, 828.68 for Russell, $39.75 for fund
|
Knock-in levels: | 816.738 for S&P, 497.208 for Russell, $23.85 for fund; 60% of initial levels
|
Pricing date: | Feb. 17
|
Settlement date: | Feb. 23
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.25%
|
Cusip: | 22546TMX6
|
© 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.