Published on 6/28/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3 million contingent coupon callable yield notes on indexes
By Marisa Wong
Madison, Wis., June 28 - Credit Suisse AG, Nassau Branch priced $3 million of contingent coupon callable yield notes due July 3, 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 11.75% per year if each index closes at or above its barrier level, 75% of the initial level, on the observation date for that period. Otherwise, no coupon will be paid that quarter.
The notes will be callable at par plus the contingent coupon, if any, on any interest payment date beginning Oct. 3.
The payout at maturity will be par unless any index finishes at or below its knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index from its initial level. The knock-in level is 75% of the initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $3 million
|
| Maturity: | July 3, 2015
|
| Coupon: | 11.75% per year if each index closes at or above barrier level on quarterly observation date; otherwise, no coupon will be paid that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes at or below knock-in level, in which case par plus return of worst-performing index
|
| Call option: | At par plus contingent coupon on any interest payment date beginning Oct. 3
|
| Initial index levels: | 1,603.26 for S&P 500, 963.83 for Russell 2000, 2,619.86 for Euro Stoxx 50
|
| Barrier/knock-in levels: | 1,202.44 for S&P 500, 722.87 for Russell 2000, 1,964.89 for Euro Stoxx 50; 75% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | July 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.8%
|
| Cusip: | 22547Q5J1
|
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