Published on 12/2/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $689,000 contingent coupon callable notes on indexes
By Susanna Moon
Chicago, Dec. 2 – Credit Suisse AG priced $689,000 of contingent coupon callable yield notes due Nov. 29, 2024 linked to the Euro Stoxx 50 index and the Russell 2000 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 7.25% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes will be called at par if each index closes at or above initial level on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
Amount: | $689,000
|
Maturity: | Nov. 29, 2024
|
Coupon: | 7.25% annualized, payable quarterly, if each index closes at or above its barrier level on observation date for quarter
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes below knock-in level, in which case full exposure to any losses of worst performing index
|
Call: | At par plus the contingent coupon if each index closes at or above initial level on any interest payment date
|
Initial levels: | 1,186.94 for Russell and 3,211.70 for Euro Stoxx
|
Coupon barriers: | 712.164 for Russell and 1,927.02 for Euro Stoxx; 60% of initial levels
|
Knock-in levels: | 593.47 for Russell and 1,605.85 for Euro Stoxx; 50% of initial levels
|
Pricing date: | Nov. 24
|
Settlement date: | Nov. 28
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 3.5%
|
Cusip: | 22547QVK9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.