Published on 4/8/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.9 million Stars tied to S&P 500, Euro Stoxx 50
By Marisa Wong
Madison, Wis., April 8 – Credit Suisse AG, London Branch priced $1.9 million of 0% Strategic Accelerated Redemption Securities due April 13, 2018 linked to the worst of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call premium of 17.9% annualized if the basket closes at or above the initial level on any of three annual observation dates.
The payout at maturity will be par plus the return of the worst performing index, with full exposure to losses.
BofA Merrill Lynch is the agent.
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: | $1.9 million
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Maturity: | April 13, 2018
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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 17.9% per year if each index closes at or above its initial level on April 8, 2016, April 7, 2017 or April 6, 2018
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Initial levels: | 2,059.69 for S&P, 3,714.89 for Euro Stoxx
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Pricing date: | April 1
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Settlement date: | April 8
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Underwriter: | BofA Merrill Lynch
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Fees: | 1%
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Cusip: | 22548D732
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