Published on 2/1/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $2.5 million contingent coupon callable yield notes linked to basket
By Angela McDaniels
Tacoma, Wash., Feb. 1 - Credit Suisse AG, Nassau Branch priced $2.5 million of contingent coupon callable yield notes due Aug. 3, 2015 linked to the Euro Stoxx 50 index, the Nikkei 225 index and the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a coupon of 7.75% per year unless any underlying component closes below its knock-in level, 65% of its initial level, on the observation date for that quarter, in which case no interest will be paid that quarter.
The payout at maturity will be par unless any underlying component finishes below its knock-in level, in which case investors will be fully exposed to the decline of the worst-performing underlying component from its initial level.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | Euro Stoxx 50 index, Nikkei 225 index, iShares MSCI Emerging Markets index fund
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| Amount: | $2.5 million
|
| Maturity: | Aug. 3, 2015
|
| Coupon: | 7.75% per year unless any underlying component closes below its knock-in level on the observation date for that quarter, in which case no interest will be paid that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying component finishes below its knock-in level, in which case full exposure to decline of worst-performing underlying component from its initial level
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 2,749.27 for Euro Stoxx 50; 10,866.72 for Nikkei 225; $44.34 for ETF
|
| Knock-in levels: | 1,787.0255 for Euro Stoxx 50; 7,063.368 for Nikkei 225; $28.821 for ETF; 65% of initial levels
|
| Pricing date: | Jan. 29
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| Settlement date: | Feb. 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22546TV81
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