Published on 9/16/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.5 million contingent coupon yield notes linked to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 16 – Credit Suisse AG, London Branch priced $1.5 million of contingent coupon yield notes due April 13, 2017 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annualized rate of 5.15% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that month.
The payout at maturity will be par unless either index finishes below its initial level and either has closed below its knock-in level, 70% of its initial level, any day during the life of the notes, in which case investors will be fully exposed to the decline in the lesser-performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon yield notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $1.5 million
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Maturity: | April 13, 2017
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Coupon: | 5.15%, payable monthly if each index closes at or above barrier level on observation date for that month
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Price: | Par
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Payout at maturity: | Par unless either index finishes below initial level and has either has closed below knock-in level any day during life of notes, in which case full exposure to decline in lesser-performing index
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Initial levels: | 2,127.02 for S&P 500 and 1,212.320 for Russell 2000
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Barrier/knock-in levels: | 1,488.914 for S&P 500 and 848.624 for Russell 2000; 70% of initial level
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Pricing date: | Sept. 13
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Settlement date: | Sept. 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.5%
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Cusip: | 22548QHH1
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