Published on 2/25/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.36 million contingent coupon callable yield notes on indexes
By Marisa Wong
Madison, Wis., Feb. 25 – Credit Suisse AG, London Branch priced $1.36 million of contingent coupon callable yield notes due Feb. 27, 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 8.35% 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 Aug. 27, 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: | $1,364,000
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Maturity: | Feb. 27, 2018
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Coupon: | 8.35% annualized, payable semiannually if each index closes at or above its barrier level on observation date for that period
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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
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Call option: | On any contingent coupon payment date beginning Aug. 27, 2015
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Initial levels: | 3,490.53 | for Euro Stoxx, 1,231.789 for Russell
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Barrier/knock-in levels: | 2,443.3710 for Euro Stoxx, 862.2523 for Russell; 70% of initial levels
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Pricing date: | Feb. 20
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Settlement date: | Feb. 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.3%
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Cusip: | 22546V3W4
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