Published on 3/30/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.25 million contingent coupon callable yield notes on indexes
By Marisa Wong
Madison, Wis., March 30 – Credit Suisse AG, London Branch priced $2.25 million of contingent coupon callable yield notes due March 29, 2019 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 at an annual rate of 5.6% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes will be callable on any contingent coupon payment date beginning March 31, 2016.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,253,000
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| Maturity: | March 29, 2019
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| Coupon: | 5.6% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case par plus return of worst performing index with full exposure to losses
|
| Call option: | On any contingent coupon payment date beginning March 31, 2016
|
| Initial levels: | 2,056.15 for S&P, 1,231.99 for Russell
|
| Barrier levels: | 1,233.690 for S&P, 739.194 for Russell; 60% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.15%
|
| Cusip: | 22546V6P6
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