Published on 1/3/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $9.15 million high/low coupon notes tied to Russell, oil fund
By Marisa Wong
Madison, Wis., Jan. 3 - Credit Suisse AG, Nassau Branch priced $9.15 million of high/low coupon callable yield notes due July 7, 2014 linked to 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 underlying component falls to or below 56% of its initial level during the life of the notes.
If a knock-in event never occurs, the coupon will be 10.1%. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period is expected to be 1%. Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless a knock-in event occurs, in which case investors will receive par plus the return of the worse-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: | Russell 2000 index, United States Oil Fund, LP
|
Amount: | $9,148,000
|
Maturity: | July 7, 2014
|
Coupon: | 10.1% if neither component 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 return of worse-performing component, capped at par; otherwise, par
|
Knock-out event: | Either underlying component falls to or below knock-in level during life of notes
|
Call option: | On any interest payment date beginning April 4
|
Initial levels: | 849.35 for Russell, $33.36 for oil fund
|
Knock-in levels: | 475.636 for Russell, $18.6816 for oil fund, 56% of initial levels
|
Pricing date: | Dec. 31
|
Settlement date: | Jan. 4
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.25%
|
Cusip: | 22546TL74
|
© 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.