Published on 2/27/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $6.79 million contingent coupon callable yield notes on indexes
By Susanna Moon
Chicago, Feb. 27 - Credit Suisse AG, London Branch priced $6.79 million of contingent coupon callable yield notes due Feb. 28, 2017 linked to the S&P 500 index, 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 contingent quarterly coupon at an annual rate of 8.25% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are callable at par plus the contingent coupon on any interest payment.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London 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: | $6,785,000
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Maturity: | Feb. 28, 2017
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Coupon: | 8.25% per year, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to losses of worst performing index
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Call option: | At par plus contingent coupon on any interest payment date
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Initial levels: | 1,845.12 for S&P, 1,173.95 for Russell, 3,157.48 for Euro Stoxx
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Barrier/knock-in levels: | 1199.328 for S&P, 763.0675 for Russell, 2,052.362 for Euro Stoxx; 65 of initial levels
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22547QHF6
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