By Kiku Steinfeld
Chicago, July 20 – Credit Suisse AG, London Branch priced $1.31 million of contingent coupon buffered callable yield notes due July 20, 2022 linked to the lowest performing of the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 7% if each asset closes at or above its coupon barrier level, 69.5% of its initial level, on a monthly observation date.
The notes are callable at par on any quarterly redemption date after one year.
The payout at maturity will be par unless either asset finishes below its 69.5% buffer, in which case investors will lose 1.4388% for each 1% decline of the lesser-performing asset beyond the buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon buffered callable yield notes
|
| Underlying assets: | Euro Stoxx 50 index and Dow Jones industrial average
|
| Amount: | $1,312,000
|
| Maturity: | July 20, 2022
|
| Coupon: | 7% per year, payable monthly if each asset closes at or above its coupon barrier level on monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset finishes below its buffer level, in which case investors lose 1.4388% for each 1% loss of lesser-performing asset beyond buffer
|
| Call option: | At par on any quarterly redemption date after one year
|
| Initial levels: | 3378.21 for Stoxx 50, 26870.10for Dow
|
| Coupon barrier/buffers: | 2347.85595 for Stoxx 50, 18674.7195 for Dow; 69.5% of initial levels
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22552WBT1
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
