Published on 7/29/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $400,000 contingent coupon callable yield notes tied to indexes
By Toni Weeks
San Luis Obispo, Calif., July 29 – Credit Suisse AG, London Branch priced $400,000 of contingent coupon callable yield notes due July 30, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that interest period.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst-performing index.
The notes will be callable at par on any interest payment date after six months.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $400,000
|
Maturity: | July 30, 2018
|
Coupon: | 8% annualized for each semiannual interest period that each index closes at or above barrier level on observation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to any losses of worst-performing index
|
Call option: | At par on any interest payment date beginning Jan. 29, 2016
|
Initial levels: | 2,067.64 for S&P and 1,214.694 for Russell
|
Barrier levels: | 1,447.348 for S&P and 850.2858 for Russell, 70% of initial levels
|
Pricing date: | July 27
|
Settlement date: | July 30
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.55%
|
Cusip: | 22546VHJ8
|
© 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.