Published on 12/30/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.65 million contingent coupon callable notes on indexes
By Susanna Moon
Chicago, Dec. 30 - Credit Suisse AG, London Branch priced $2.65 million of contingent coupon callable yield notes due Dec. 30, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannually coupon of 6% per year if each underlying component closes at or above its 70% barrier level on the observation date for that period.
The notes will be callable at par plus the contingent coupon on any interest payment.
The payout at maturity will be par unless either component finishes at or below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worst performing component.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying components: | S&P 500 index, Russell 2000 index
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Amount: | $2,645,000
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Maturity: | Dec. 30, 2016
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Coupon: | 6% per year, payable semiannually if index closes at or above barrier level on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless either component finishes at or below knock-in level, in which case investors will be fully exposed to losses of worst performing component
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Call option: | At par plus the contingent coupon on any interest payment
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Initial levels: | 1,818.32 for S&P, 1,146.47 for Russell
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Barrier levels: | 1,272.824 for S&P, 802.529 for Russell; 70% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.2%
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Cusip: | 22547QE93
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