Published on 7/9/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.41 million contingent coupon callable notes on indexes, ETF
By Marisa Wong
Madison, Wis., July 9 – Credit Suisse AG, London Branch priced $3.41 million of contingent coupon callable yield notes due Jan. 10, 2019 linked to the S&P 500 index, the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 9.5% per year if each underlying closes at or above its coupon barrier level, 60% 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, 60% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing underlying from its initial level.
The notes are callable at par on any interest payment date beginning Jan. 11, 2016.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlyings: | S&P 500, iShares MSCI EAFE ETF, Euro Stoxx 50
|
| Amount: | $3.41 million
|
| Maturity: | Jan. 10, 2019
|
| Coupon: | 9.5% annualized, payable quarterly if each underlying closes at or above its barrier level on observation date for that quarter
|
| Price: | Par
|
| 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
|
| Call option: | On any contingent coupon payment date beginning Jan. 11, 2016
|
| Initial levels: | $62.71 for ETF, 2,081.34 for S&P, 3,294.19 for Euro Stoxx
|
| Barrier/knock-in levels: | $37.626 for ETF, 1,248.8040 for S&P, 1,976.5140 for Euro Stoxx; 60% of initial levels
|
| Pricing date: | July 7
|
| Settlement date: | July 10
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.375%
|
| Cusip: | 22546VGV2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
