Published on 1/29/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $7.62 million contingent coupon callable yield notes on two indexes
By Jennifer Chiou
New York, Jan. 29 – Credit Suisse AG, London Branch priced $7,619,000 of contingent coupon callable yield notes due Jan. 30, 2025 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 8% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
The payout at maturity will be par unless either index finishes below its 60% 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 April 30, 2015.
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: | Euro Stoxx 50 and Russell 2000
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| Amount: | $7,619,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 8% annualized, payable quarterly if each index closes at or above its barrier level on observation date for that interest period
|
| Price: | Par
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| 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 April 30, 2015
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| Initial levels: | 3,372.58 for Euro Stoxx 50, 1,194.66 for Russell
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| Barrier/knock-in levels: | 2,023.548 for Euro Stoxx 50, 716.796 for Russell; 60% of initial levels
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.07%
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| Cusip: | 22546V2D7
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