Published on 12/2/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $397,000 trigger contingent coupon notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Dec. 2 – Credit Suisse AG, London Branch priced $397,000 of trigger contingent coupon optimization securities due Nov. 28, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.25% per year if the index closes at or above the trigger level, 50% of its initial level, on the observation date for that quarter.
The payout at maturity will be par of $10 plus the contingent coupon unless the index finishes below the trigger level, in which case investors will be fully exposed to the index’s decline.
Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger contingent coupon optimization securities
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Underlying index: | S&P 500
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Amount: | $397,000
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Maturity: | Nov. 28, 2025
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Coupon: | Each quarter, notes pay contingent coupon at rate of 6.25% per year if index closes at or above trigger level on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par plus contingent coupon unless index finishes below trigger level, in which case full exposure to index’s decline
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Initial index level: | 2,089.14
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Trigger level: | 1,044.57, 50% of initial level
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
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Fees: | 0.5%
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Cusip: | 22548F877
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