Published on 6/27/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.63 million accelerated barrier notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., June 27 – Credit Suisse AG, London Branch priced $2.63 million of 0% accelerated barrier notes due June 28, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of the least-performing index is equal to or greater than its initial level, the payout at maturity will be par plus 140% of the return of that index.
If the least-performing index finishes below its initial level and a knock-in event does not occur, the payout will be par. A knock-in event occurs if either index finishes at or below its knock-in level, 70% of its initial level.
If the least-performing index finishes below its initial level and a knock-in event occurs, investors will be fully exposed to the decline of the least-performing index.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $2,627,000
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Maturity: | June 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If least-performing index finishes at or above initial level, par plus 140% of return of that index; if least-performing index finishes below initial level and knock-in event does not occur, par; if least-performing index finishes below initial level and knock-in event occurs, full exposure to decline of least-performing index
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Knock-in event: | Either index finishes at or below its knock-in level
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Initial index levels: | 1,959.53 for S&P 500 and 1,183.68 for Russell 2000
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Knock-in levels: | 1,371.671 for S&P 500 and 827.876 for Russell 2000, 70% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 4%
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Cusip: | 22547QNE2
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