Published on 9/2/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $5.32 million income notes linked to 20 stocks
By Angela McDaniels
Tacoma, Wash., Sept. 2 – Credit Suisse AG, London Branch priced $5.32 million income notes due Aug. 28, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes AbbVie Inc., BHP Billiton Ltd., Comcast Corp., Eaton Corp. plc, Exxon Mobil Corp., Ford Motor Co., Facebook, Inc., FireEye, Inc., Helmerich & Payne, Inc., JPMorgan Chase & Co., Kraft Foods Group, Inc., McDonald’s Corp., Och-Ziff Capital Management Group LLC, Philip Morris International Inc., PPL Corp., Sempra Energy, SunEdison, Inc., Texas Instruments Inc., Under Armour, Inc. and Verizon Communications Inc.
Interest is payable annually. If at least 14 of the 20 stocks have not decreased in value from the pricing date, the coupon for that year will be 5.56%. Otherwise, the coupon will be 1%.
The payout at maturity will be par of $10 plus the final coupon.
BofA Merrill Lynch is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Income notes
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Underlying stocks: | AbbVie Inc., BHP Billiton Ltd., Comcast Corp., Eaton Corp. plc, Exxon Mobil Corp., Ford Motor Co., Facebook, Inc., FireEye, Inc., Helmerich & Payne, Inc., JPMorgan Chase & Co., Kraft Foods Group, Inc., McDonald’s Corp., Och-Ziff Capital Management Group LLC, Philip Morris International Inc., PPL Corp., Sempra Energy, SunEdison, Inc., Texas Instruments Inc., Under Armour, Inc. and Verizon Communications Inc.
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Amount: | $5,319,460
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Maturity: | Aug. 28, 2020
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Coupon: | Each year, notes will pay 5.56% coupon if at least 14 of the 20 stocks have not decreased in value from pricing date; otherwise, coupon for that year will be 1%
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Price: | Par of $10
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Payout at maturity: | Par plus final coupon
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Pricing date: | Aug. 28
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Settlement date: | Sept. 5
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Agent: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 22545F250
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