Published on 10/23/2012 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.5 million 6.5% callable yield notes on S&P 500, Russell
By Susanna Moon
Chicago, Oct. 23 - Credit Suisse AG, Nassau Branch priced $3.5 million of 6.5% callable yield notes due April 28, 2014 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index falls to or below 70% of its initial level during the life of the notes, in which case investors will receive par plus the return of the worse-performing index, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, Nassau Branch
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Issue: | Callable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $3,503,000
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Maturity: | April 28, 2014
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Coupon: | 6.5%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either index falls to or below knock-in level during life of notes, in which case par plus return of worst-performing index, capped at par
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Call option: | At par on any interest payment date
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Initial index levels: | 1433.19 for S&P and 821.00 for Russell
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Knock-in levels: | 1,003.233 for S&P and 574.70 for Russell; 70% of initial levels
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Pricing date: | Oct. 19
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Settlement date: | Oct. 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.5%
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Cusip: | 22546TE72
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