Published on 4/24/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.25 million contingent coupon callable notes on indexes, ETF
By Marisa Wong
Madison, Wis., April 24 – Credit Suisse AG, London Branch priced $1.25 million of contingent coupon callable yield notes due April 24, 2018 linked to the Russell 2000 index, the S&P 500 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each underlying closes at or above its coupon barrier level, 55% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any underlying finishes below its knock-in level, 55% of its initial level, in which case investors will be fully exposed to any losses of the worst performing underlying.
The notes are callable at par on any interest payment date beginning Oct. 26, 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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| Underlyings: | iShares MSCI EAFE ETF, Russell 2000 index and S&P 500 index
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| Amount: | $1.25 million
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| Maturity: | April 24, 2018
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| Coupon: | 6% annualized, payable quarterly if each underlying closes at or above its barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any underlying finishes below its knock-in level, in which case par plus return of worst performing underlying with full exposure to losses
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| Call option: | On any contingent coupon payment date beginning Oct. 26, 2015
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| Initial levels: | 1,264.151 for Russell, 2,097.29 for S&P, $66.63 for ETF
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| Barrier/knock-in levels: | 695.283 for Russell, 1,153.510 for S&P, $36.647 for ETF; 55% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22546VAH9
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