New Issue: Credit Suisse prices $2.17 million contingent coupon callable yield notes on Tesoro

By Toni Weeks

San Luis Obispo, Calif., April 7 - Credit Suisse AG, London Branch priced $2.17 million of contingent coupon callable yield notes due April 8, 2016 linked to the common stock of Tesoro Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a coupon at a rate of 12.1% per year if Tesoro stock closes at or above the barrier level, 70% of the initial share price, on the observation date for that quarter.

If the final share price is greater than or equal to the barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

The notes are callable at par on any interest payment date beginning Jan. 8, 2015.

Barclays is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon callable yield notes
Underlying stock:	Tesoro Corp. (Symbol: TSO)
Amount:	$2,165,000
Maturity:	April 8, 2016
Coupon:	12.1% per year, payable quarterly if Tesoro stock closes at or above barrier level on observation date for that quarter
Price:	Par of $1,000
Payout at maturity:	If final share price is greater than or equal to barrier level, par; otherwise, 1% loss for every 1% drop below initial share price
Call option:	At par on any interest payment date beginning Jan. 8, 2015
Initial price:	$51.35
Barrier price:	$35.945, 70% of initial price
Pricing date:	April 3
Settlement date:	April 8
Agent:	Barclays
Fees:	1.75%
Cusip:	22547QLV6

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.