Published on 1/28/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $331,000 contingent coupon callable yield notes on indexes
By Jennifer Chiou
New York, Jan. 28 – Credit Suisse AG, London Branch priced $331,000 of contingent coupon callable yield notes due Jan. 30, 2018 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 semiannual coupon at an annual rate of 8.25% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes below its 70% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing index.
The notes will be callable on any contingent coupon payment date beginning on July 30, 2015.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $331,000
|
| Maturity: | Jan. 30, 2018
|
| Coupon: | 8.25% annualized, payable semiannually if each index closes at or above its barrier level on observation date for that interest period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below its knock-in level, in which case par plus return of worst-performing index, with full exposure to losses
|
| Call option: | On any contingent coupon payment date beginning July 30, 2015
|
| Initial levels: | 3,382.55 for Euro Stoxx 50, 1,188.928 for Russell
|
| Barrier/knock-in levels: | 2,367.785 for Euro Stoxx 50, 832.25 for Russell; 70% of initial levels
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.2%
|
| Cusip: | 22547QXW1
|
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