Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Credit Suisse AG, Nassau Branch > News item |
Credit Suisse plans high/low coupon callable notes on S&P 500, Russell
By Jennifer Chiou
New York, Nov. 1 - Credit Suisse AG, Nassau Branch plans to price high/low coupon callable yield notes due March 5, 2014 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if either underlying component falls to or below 65% of its initial level on any day during a quarterly observation period.
If a knock-in event never occurs, the coupon will be 7.5% to 8.5%. If a knock-in event occurs during any quarterly observation period, the coupon for that interest period and each subsequent interest period is expected to be 1%. Interest is payable quarterly. The exact coupon will be set at pricing.
The notes are callable on any interest payment date beginning on June 5, 2013.
If a knock-in event occurs, the payout at maturity will be par plus the return of the worse-performing component, up to a maximum payout of par. If a knock-in event does not occur, investors will receive par.
The notes (Cusip: 22546TF89) are expected to price on Nov. 30 and settle on Dec. 5.
Credit Suisse Securities (USA) LLC is the agent.
© 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.