Published on 10/4/2013 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $23.25 million contingent coupon callable notes on indexes, fund
By Toni Weeks
San Luis Obispo, Calif., Oct. 4 - Credit Suisse AG, London Branch priced $23.25 million of contingent coupon callable yield notes due Oct. 10, 2017 linked to the S&P 500 index, the Russell 2000 index and the 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 of at an annual rate of 8% if each component closes at or above its barrier level, 60% of the initial level, on the observation date for that quarter.
The notes will be callable at par plus the contingent coupon on any interest payment.
The payout at maturity will be par unless any component finishes below its 60% knock-in level, in which case investors will be fully exposed to the decline of the worst-performing component.
Barclays is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying components: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $23.25 million
|
| Maturity: | Oct. 10, 2017
|
| Coupon: | 8% per year, payable quarterly, if each component closes at or above barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any component finishes below knock-in level, in which case par plus return of worst-performing component
|
| Call option: | At par plus contingent coupon on any interest payment date beginning Jan. 7, 2014
|
| Initial levels: | 1,693.87 for S&P, 1,082.55 for Russell, $64.12 for ETF
|
| Barrier levels: | 1,016.322 for S&P, 649.53 for Russell, $38.472 for MSCI EAFE; 60% of initial levels
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 7
|
| Agent: | Barclays
|
| Fees: | 1.75%
|
| Cusip: | 22547QBY1
|
© 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.
