By Wendy Van Sickle
Columbus, Ohio, March 6 – Credit Suisse AG priced $18.6 million of autocallable contingent income securities due March 7, 2019 linked to Netflix, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14% if the stock closes at or above its 65% coupon barrier on the related observation date.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any observation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | Credit Suisse AG
|
| Issue: | Autocallable contingent income securities
|
| Underlying stock: | Netflix, Inc.
|
| Amount: | $18,600,140
|
| Maturity: | March 7, 2019
|
| Coupon: | 14% per year, payable quarterly if stock closes at or above coupon barrier on determination date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to decline
|
| Call: | At par if stock closes at or above initial level on any determination date
|
| Initial share price: | $301.05
|
| Coupon barrier: | $195.68, 65% of initial share price
|
| Downside threshold: | $195.68, 65% of initial share price
|
| Pricing date: | March 2
|
| Settlement date: | March 7
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 22549E572
|
|
|
© 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.
