Published on 8/9/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.5 million contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, Aug. 9 - Credit Suisse AG, London Branch priced $1.5 million of contingent coupon callable yield notes Aug. 14, 2015 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 contingent quarterly coupon of at an annualized rate of 5.25% if each index closes at or above its barrier level, 65% of the initial level, on the observation date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment.
The payout at maturity will be par unless either index finishes at or below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
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 indexes: | S&P 500, Russell 2000
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Amount: | $1.5 million
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Maturity: | Aug. 14, 2015
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Coupon: | 5.25% per year, payable quarterly, if each index closes at or above barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless either index finishes at or below knock-in level, in which case par plus return of worst performing index
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Call option: | At par plus contingent coupon on any interest payment date
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Initial index levels: | 1,690.91 for S&P, 1,044.34 for Russell
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Barrier levels: | 1,099.09 for S&P, 678.82 for Russell; 65% of initial levels
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Pricing date: | Aug. 7
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Settlement date: | Aug. 14
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.25%
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Cusip: | 22547Q7G5
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