Published on 12/2/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $103,000 contingent coupon callable notes on Russell, EAFE ETF
By Marisa Wong
Madison, Wis., Dec. 2 - Credit Suisse AG, London Branch priced $103,000 of contingent coupon callable yield notes due Nov. 30, 2015 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon of 6.1% per year if each underlying component closes at or above its barrier level, 75% of the initial level, on the observation date for that period. Otherwise, no coupon will be paid that period.
The notes will be callable at par plus the contingent coupon, if any, on any interest payment beginning May 29, 2014.
The payout at maturity will be par unless either component finishes at or below its 75% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing component from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | Russell 2000, iShares MSCI EAFE ETF
|
| Amount: | $103,000
|
| Maturity: | Nov. 30, 2015
|
| Coupon: | 6.1% per year, payable quarterly if index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either component finishes at or below knock-in level, in which case investors will be fully exposed to decline of worst-performing component from its initial level
|
| Call option: | At par plus the contingent coupon, if any, on any interest payment beginning May 29, 2014
|
| Initial levels: | 1,124.73 for index, $65.95 for ETF
|
| Barrier/knock-in levels: | 843.5475 for index, $49.4625 for ETF; 75% of initial levels
|
| Pricing date: | Nov. 25
|
| Settlement date: | Nov. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22547QCT1
|
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