By Wendy Van Sickle
Columbus, Ohio, June 16 – Credit Suisse AG, London Branch priced $15 million of 25.75% fixed-income autocallable securities due June 16, 2021 linked to the common stock of United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus the most recent coupon if the stock closes at or above its initial level on any monthly determination date.
If the notes are not called and the stock finishes at or above its buffer level, 50% of its initial share price, the payout at maturity will be par.
Otherwise, investors will receive a number of United Airlines shares equal to $1,000 divided by the buffer level or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC as a distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Fixed-income autocallable securities
|
| Underlying stock: | United Airlines Holdings, Inc.
|
| Amount: | $15 million
|
| Maturity: | June 16, 2021
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| Coupon: | 25.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes at or above buffer level; otherwise, 60.024 United Airlines shares or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | Automatically at par plus coupon if stock closes at or above its initial level on any monthly determination date
|
| Initial level: | $33.32
|
| Buffer level: | $16.66; 50% of initial level
|
| Pricing date: | June 11
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| Settlement date: | June 16
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| Agent: | Credit Suisse Securities (USA) LLC
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| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 0.2%
|
| Cusip: | 22550MFW4
|
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