Published on 1/23/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $8.72 million 5% coupon buffered autocallables tied to index, fund
By Susanna Moon
Chicago, Jan. 23 - Credit Suisse AG London Branch priced $8.72 million of 5% coupon buffered securities due July 24, 2015 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless either component finishes below the 80% barrier level, in which case investors will lose 1.25% for every 1% decline of the worst performing component beyond 20%.
The notes will be called if each component closes above its initial level on any quarterly observation date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Coupon buffered securities
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Underlying components: | Russell 2000 index and the iShares MSCI EAFE index fund
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Amount: | $8,718,000
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Maturity: | July 24, 2015
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Coupon: | 5%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless worst performing component falls by more than 20%, in which case 1.25% loss per each 1% decline of worst performing component beyond 20%
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Call: | If each component closes above initial level on any quarterly date
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Initial levels: | 1,168.43 for Russell, $66.81 for EAFE fund
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Trigger levels: | 80% of initial level
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Pricing date: | Jan. 21
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Settlement date: | Jan. 24
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.2%
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Cusip: | 22547QGC4
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