Published on 1/13/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.51 million contingent coupon callable notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Credit Suisse AG, London Branch priced $3.51 million of contingent coupon callable yield notes due Jan. 16, 2018 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 8.55% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The payout at maturity will be par unless any index finishes below its 60% barrier level, in which case investors will be fully exposed to the loss of the worst 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, Russell 2000 and Euro Stoxx 50
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Amount: | $3,505,000
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Maturity: | Jan. 16, 2018
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Coupon: | 8.55% annualized, payable quarterly if each index closes at or above barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below barrier level, in which case full exposure to loss of worst performing index
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Call option: | At par on any interest payment date
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Initial levels: | 1,922.03 for S&P, 1046.202 for Russell, 3,033.47 for Euro Stoxx
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Barrier levels: | 1,153.218 for S&P, 627.7212 for Russell, 1,820.082 for Euro Stoxx; 60% of initial levels
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Pricing date: | Jan. 8
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Settlement date: | Jan. 13
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.25%
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Cusip: | 22546VUC8
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