Published on 3/19/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5.32 million contingent coupon callable notes on three indexes
By Marisa Wong
Madison, Wis., March 19 - Credit Suisse AG, Nassau Branch priced $5.32 million of contingent coupon callable yield notes due March 20, 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.
The notes will pay a quarterly coupon of 8% per year if each index closes at or above the 70% barrier level on the observation date for that quarter. Otherwise, no coupon will be paid that period.
The notes are callable at par plus the contingent coupon on any interest payment date.
The payout at maturity will be par unless any index finishes at or below the 70% knock-in level, in which case investors will receive par plus the return of the worst-performing index.
The exact terms will be set at pricing.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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Amount: | $5.32 million
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Maturity: | March 20, 2015
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Coupon: | 8% per year if each index closes at or above barrier level on quarterly observation date; otherwise, no coupon will be paid that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes at or below knock-in level, in which case par plus return of worst-performing component
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Call option: | At par plus contingent coupon on any interest payment date
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Initial index levels: | 1,560.70 S&P 500, 952.48 for Russell 2000, 2,725.72 for Euro Stoxx 50
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Barrier/knock-in levels: | 1,092.49 for S&P 500 and 666.736 for Russell 2000, 1,908.004 for Euro Stoxx 50; 70% of initial levels
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Pricing date: | March 15
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Settlement date: | March 22
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2%
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Cusip: | 22546T3W9
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