By Susanna Moon
Chicago, March 1 – Credit Suisse AG, London Branch priced $5 million of callable daily range accrual securities due Aug. 29, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 7% annualized for each day that the index closes above the accrual barrier, 75% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than the 25% buffer, in which case investors will be exposed to any losses beyond 25%.
The notes are callable on any contingent coupon payment date after one year.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Callable daily range accrual securities
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Underlying index: | Russell 2000
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Amount: | $5 million
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Maturity: | Aug. 29, 2023
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Coupon: | 7% annualized for each day that index closes at or above barrier level; payable monthly
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 25%, in which case exposure to losses beyond 25%
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Call option: | At par on any interest payment date beginning Feb. 28, 2017
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Initial index level: | 1,022.077
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Barrier level: | 766.55775, 75% of initial level
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Pricing date: | Feb. 24
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Settlement date: | Feb. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4%
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Cusip: | 22546VRQ1
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