Published on 12/16/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5 million autocallable yield notes linked to three indexes
By Marisa Wong
Madison, Wis., Dec. 16 - Credit Suisse AG, London Branch priced $5 million of 6% autocallable yield notes due Sept. 17, 2015 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each underlying index closes at or above its initial level on any quarterly call observation date.
If the notes are not called, the payout at maturity will be par unless the final level of any index is less than or equal to its knock-in level, in which case investors will be fully exposed to the decline of the least-performing index. The knock-in level is equal to 65% of the initial level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
|
| Amount: | $5 million
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| Maturity: | Sept. 17, 2015
|
| Coupon: | 6%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
|
| Call: | Automatically at par if all underlying indexes close at or above initial levels on any quarterly call observation date
|
| Initial index levels: | 1,782.22 for S&P, 1,101.50 for Russell, 2,947.31 for Euro Stoxx
|
| Knock-in levels: | 1,158.4430 for S&P, 715.9750 for Russell, 1,915.7515 for Euro Stoxx; 65% of initial levels
|
| Pricing date: | Dec. 12
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| Settlement date: | Dec. 17
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA (placement)
|
| Fees: | 0.75%
|
| Cusip: | 22547QEU6
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