By Sarah Lizee
Olympia, Wash., April 23 – Credit Suisse AG, London Branch priced $859,000 of contingent coupon callable yield notes due April 26, 2022 linked to the lesser performing of the SPDR S&P Biotech ETF and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual contingent coupon at an annual rate of 9.15% if each fund closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any semiannual contingent coupon payment date.
The payout at maturity will be par unless either fund finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying funds: | SPDR S&P Biotech ETF and Technology Select Sector SPDR fund
|
| Amount: | $859,000
|
| Maturity: | April 26, 2022
|
| Coupon: | 9.15% per year, payable semiannually if each fund closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either fund finishes below its knock-in level, in which case full exposure to the losses of the least-performing fund
|
| Call: | At par on any semiannual contingent coupon payment date
|
| Initial prices: | $84.63 for biotech fund, $77.82 for oil fund
|
| Coupon barrier levels: | $50.778 for biotech fund, $46.692 for technology fund; 60% of initial levels
|
| Knock-in levels: | $50.778 for biotech fund, $46.692 for technology fund; 60% of initial levels
|
| Pricing date: | April 18
|
| Settlement date: | April 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22552F5E8
|
© 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.
