By Angela McDaniels
Tacoma, Wash., June 4 - Credit Suisse AG, London Branch priced $791,000 of high/low coupon callable yield notes due Dec. 4, 2015 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlying index closes below its knock-in level, 70% of its initial level, during the life of the notes.
The coupon will be 8% per year unless a knock-in event occurs, in which case the coupon will be 1% per year for that and each subsequent interest period. Interest is payable quarterly.
The notes are callable at par on any interest payment date.
If the notes are not called, the payout at maturity will be par unless a knock-in event has occurred, in which case the payout will be par plus the return of the lowest-performing underlying index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | High/low coupon callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $791,000
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Maturity: | Dec. 4, 2015
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Coupon: | 8% per year, payable quarterly unless either index closes below knock-in level, in which case 1% per year for that and each subsequent interest period
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Price: | Par
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Payout at maturity: | If knock-in event occurs, par plus return of worst-performing index, capped at par; otherwise, par
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Call option: | At par on any interest payment date
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Initial index levels: | 1,923.57 for S&P 500 and 1,134.50 for Russell 2000
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Knock-in levels: | 1,346.499 for S&P 500 and 794.15 for Russell 2000; 70% of initial levels
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Pricing date: | May 30
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Settlement date: | June 4
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.6%
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Cusip: | 22547QMN3
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