Published on 4/21/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.3 million contingent coupon callable yield notes linked to indexes
By Angela McDaniels
Tacoma, Wash., April 21 – Credit Suisse AG, London Branch priced $3.3 million of contingent coupon callable yield notes due April 24, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon at the rate of 7% per year unless either index closes below its barrier level, 70% of its initial level, on the observation date for that semiannual period.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the least-performing index.
The notes are callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $3,298,000
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Maturity: | April 24, 2018
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Coupon: | Every six months, notes pay contingent coupon at rate of 7% per year unless either index closes below barrier level on observation date for that semiannual period
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Price: | Par
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Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to decline of least-performing index
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Call option: | At par on any interest payment date
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Initial index levels: | 2,081.18 for S&P 500 and 1,251.858 for Russell 2000
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Barrier levels: | 1,456.826 for S&P 500 and 876.3006 for Russell 2000; 70% of initial levels
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Pricing date: | April 17
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Settlement date: | April 24
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.3%
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Cusip: | 22546VA48
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