By Susanna Moon
Chicago, March 27 - Credit Suisse AG, London Branch priced $4 million of callable daily range accrual securities due June 29, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 6% for each day that the index closes at or above the 80% barrier level, payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for every 1% decline beyond 20%.
The notes will be callable at par on any interest payment date after one year.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Callable daily range accrual securities
|
| Underlying index: | Russell 2000
|
| Amount: | $4 million
|
| Maturity: | June 29, 2020
|
| Coupon: | 6% annualized for each day that index closes at or above barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% drop beyond 20%
|
| Call option: | At par on any interest payment date beginning March 30, 2015
|
| Initial index level: | 1,178.05
|
| Barrier level: | 942.44, 80% of initial level
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22547QKC9
|
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