Published on 3/20/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5 million Stars linked to S&P 500, Euro Stoxx 50
By Marisa Wong
Madison, Wis., March 20 - Credit Suisse AG, London Branch priced $5 million of 0% Strategic Accelerated Redemption Securities due March 31, 2017 linked to the worse performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
BofA Merrill Lynch is the agent.
The notes will be called at par of $10 plus a call premium of 15.8% per year if each index closes at or above its initial level on any of three annual observation dates.
If the notes are not called, the payout at maturity will be par plus the return of the worse performing index, with full exposure to losses.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Strategic Accelerated Redemption Securities
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $5,000,004.35
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Maturity: | March 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return of worse performing index, with full exposure to losses
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Call: | At par plus a call premium of 15.8% per year if each index closes at or above its initial level on March 20, 2015, March 18, 2016 or March 24, 2017
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Initial levels: | 1,872.25 for S&P, 3,073.75 for Euro Stoxx
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Pricing date: | March 18
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Settlement date: | March 25
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 22545F599
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