By Toni Weeks
San Luis Obispo, Calif., April 29 - Credit Suisse AG, Nassau Branch priced $1.13 million of high/low coupon buffered securities due April 30, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A coupon barrier event occurs if the index falls below the coupon barrier level on any of five annual observation dates. The coupon barrier level is 100% of the initial index level.
If a coupon barrier event does not occur for an annual interest period, the corresponding interest rate for that interest period is 5.3% per year. Otherwise it is 1.5%.
If the final index level is at least 80% of the initial level, the payout at maturity will be par. Otherwise investors will lose 1% for every 1% decline beyond the 20% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | High/low coupon buffered securities
|
| Underlying index: | Russell 2000
|
| Amount: | $1,128,000
|
| Maturity: | April 30, 2018
|
| Coupon: | 5.3% per year if index level is at or above initial index level on annual observation date; otherwise 1.5%; payable annually
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 80% of initial level, par; otherwise, exposure to losses beyond the 20% buffer
|
| Initial level: | 935.25
|
| Coupon barrier level: | 935.25, 100% of initial level
|
| Pricing date: | April 26
|
| Settlement date: | April 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.45%
|
| Cusip: | 22546T5A5
|
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