By Susanna Moon
Chicago, Oct. 29 – Credit Suisse AG, London branch priced $1.07 million of callable contingent coupon notes due Oct. 28, 2020 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 6.75% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par on any contingent coupon payment date.
If the final level of the least performing index is at or above its 60% barrier level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses of the least performing index.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London branch
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,065,000
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Maturity: | Oct. 28, 2020
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Contingent coupon: | 6.75% per year, 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: | If each index finishes at or above barrier level, par; otherwise, full exposure to losses of worse performing index
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Call option: | At par on any contingent coupon payment date
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Initial index levels: | 1,166.06 for Russell and 2,075.15 for S&P
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Barrier levels: | 60% of initial levels
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Pricing date: | Oct. 23
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Settlement date: | Oct. 28
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 22546VNR3
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