Published on 6/24/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.54 million contingent coupon callable notes on S&P, Russell
By Marisa Wong
Madison, Wis., June 24 – Credit Suisse AG, London Branch priced $1.54 million of contingent coupon callable yield notes due March 25, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.25% if each index closes at or above its barrier level, 65% of the initial level, on an observation date for that quarter.
The notes will be callable at par plus any contingent coupon on any quarterly interest payment date beginning Dec. 26, 2014.
The payout at maturity will be par unless either index finishes below its 65% knock-in level, in which case investors will be fully exposed to the decline of the worst performing index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1,542,000
|
| Maturity: | March 25, 2020
|
| Coupon: | 6.25% annualized per quarter that each index closes at or above its barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If either underlying component finishes below knock-in level, par plus return of worst performing underlying index; otherwise, par
|
| Call option: | At par plus coupon, if any, on any interest payment date beginning Dec. 26, 2014
|
| Initial levels: | 1,962.87 for S&P, 1,188.42 for Russell
|
| Barrier/knock-in levels: | 1,275.866 for S&P, 772.473 for Russell; 65% of initial levels
|
| Pricing date: | June 20
|
| Settlement date: | June 25
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22547QML7
|
|
|
© 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.
