By Susanna Moon
Chicago, Oct. 7 – Credit Suisse AG, London Branch priced $539,000 of contingent coupon callable yield notes due Oct. 2, 2020 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 7.1% if each index closes at or above its 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% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are callable at par on any interest payment date.
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 and Russell 2000
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Amount: | $539,000
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Maturity: | Oct. 2, 2020
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Coupon: | 7.1% per year, payable for each quarter that each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to any losses of worse performing index
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Call option: | At par on any interest payment date
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Initial index levels: | 1,884.09 for S&P and 1,083.907 for Russell
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Barrier levels: | 60% of initial levels
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Pricing date: | Sept. 29
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Settlement date: | Oct. 2
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 22546VMF0
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