Published on 2/5/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.21 million 8% callable yield notes linked to two funds, Russell
By Jennifer Chiou
New York, Feb. 5 - Credit Suisse AG, Nassau Branch priced $2,211,000 of 8% callable yield notes due Feb. 5, 2014 linked to the Russell 2000 index, the United States Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
A knock-in event occurs if any underlying component falls by more than 40% from its initial level during the life of the notes.
The payout at maturity will be par unless any component finishes below its initial level and a knock-in event has occurred, in which case investors will receive par plus the return of the worst-performing component.
The notes are callable at par on any interest payment date other than the maturity date.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Callable yield notes
|
| Underlying components: Russell 2000 index, the United States Oil Fund, LP and the Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $2,211,000
|
| Maturity: | Feb. 5, 2014
|
| Coupon: | 8% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par, unless any component falls by 40% or more during the life of the notes and finishes below initial level, in which case par plus return of worst-performing component
|
| Initial levels: | 902.09 for Russell, $35.28 for oil; $41.62 for Gold Miners
|
| Knock-in levels: | 541.254 for Russell, $21.168 for oil; $24.972 for Gold Miners; 60% of initial levels
|
| Call option: | At par on any quarterly interest payment date beginning on May 6
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22546TU58
|
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