Published on 11/25/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.75 million contingent coupon callable yield notes on indexes
By Tali Rackner
Norfolk, Va., Nov. 25 – Credit Suisse AG, London Branch priced $3.75 million of contingent coupon callable yield notes due Nov. 26, 2018 linked to the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.15% per year unless any index closes below its barrier level, 65% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes are callable at par on any interest payment date.
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: | Russell 2000, S&P 500 and Euro Stoxx 50
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Amount: | $3.75 million
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Maturity: | Nov. 26, 2018
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Coupon: | Each quarter, notes pay contingent coupon at rate of 10.15% per year unless any index closes below barrier level on observation date for that quarter
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Price: | Par of $1,000
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Payout at maturity: | Par unless any index finishes below knock-in level, in which case full exposure to decline of least-performing index
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Call option: | At par on any interest payment date
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Initial index levels: | 1,175.15 for Russell 2000, 2,089.17 for S&P 500 and 3,452.45 for Euro Stoxx
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Coupon barrier/knock-in levels: | 763.8475 for Russell 2000, 1,357.96 for S&P 500 and 2,244.0925 for Euro Stoxx; 65% of initial levels
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Pricing date: | Nov. 20
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Settlement date: | Nov. 25
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22546VQR0
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