By Toni Weeks
San Luis Obispo, Calif., April 25 - Credit Suisse AG, Nassau Branch priced $4 million of contingent coupon callable yield notes due April 27, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon if the index closes at or above the 70% coupon barrier level on the observation date for that month. Otherwise, no coupon will be paid that period. The coupon will be 6.75% up to but excluding Sept. 28, 2015 and 8% beginning Sept. 28, 2015 until maturity.
The notes are callable at par plus the contingent coupon on any interest payment date beginning Oct. 26, 2015.
The payout at maturity will be par unless the index finishes at or below the 50% knock-in level, in which case investors will be exposed to losses from the initial index level to the final index level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying index: | Russell 2000
|
| Amount: | $4 million
|
| Maturity: | April 27, 2020
|
| Coupon: | If index closes at or above coupon barrier level on monthly observation date, a contingent interest payment will be made; otherwise, no coupon will be paid that month; coupon is 6.75% up to but excluding Sept. 28, 2015 and 8% from Sept. 28, 2015 until maturity
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes at or below knock-in level, in which case full exposure to losses
|
| Call option: | At par plus contingent coupon on any interest payment date beginning Oct. 26, 2015
|
| Initial index level: | 934.11
|
| Coupon barrier level: | 653.877; 70% of initial level
|
| Knock-in level: | 467.055, 50% of initial level
|
| Pricing date: | April 24
|
| Settlement date: | April 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.2%
|
| Cusip: | 22546T5W7
|
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