Published on 5/4/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.18 million annual coupon CS notes tied to stocks
By Angela McDaniels
Tacoma, Wash., May 4 - Credit Suisse AG, Nassau Branch priced $1.18 million of annual coupon CS notes due May 5, 2017 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes Altria Group, Inc., Amazon.com, Inc., Archer-Daniels-Midland Co., Avon Products, Inc., Charles Schwab Corp., Eli Lilly & Co., Freeport-McMoRan Copper & Gold Inc., Intel Corp., Valero Energy Corp. and Verizon Communications Inc.
The notes will pay an annual contingent coupon equal to the basket return, subject to a minimum interest rate of 0.5%. The initial basket level is 100. On any valuation date, the basket level is 100 plus the sum of the weighted component returns of the basket components.
If a basket component's underlying return is zero or positive, its component return will be 5%. Otherwise, its component return will be the greater of its underlying return and negative 30%.
The payout at maturity will be par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Annual coupon CS notes
|
| Underlying stocks: | Altria Group, Inc., Amazon.com, Inc., Archer-Daniels-Midland Co., Avon Products, Inc., Charles Schwab Corp., Eli Lilly & Co., Freeport-McMoRan Copper & Gold Inc., Intel Corp., Valero Energy Corp. and Verizon Communications Inc., equally weighted
|
| Amount: | $1,176,000
|
| Maturity: | May 5, 2017
|
| Coupon: | Amount payable annually equal to basket return, subject to minimum of 0.5%; if basket component's underlying return is zero or positive, its component return will be 5%; otherwise, its component return will be the greater of its underlying return and negative 30%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 2
|
| Settlement date: | May 7
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.75%
|
| Cusip: | 22546TQX2
|
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