By Sarah Lizee
Olympia, Wash., July 14 – Credit Suisse AG, London Branch priced $547,000 of contingent coupon autocallable reverse convertible securities due Oct. 13, 2021 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 14.1% if the stock closes at or above its 53% coupon barrier level on a monthly observation date.
The notes will be called at par if the shares close at or above the initial share price on any quarterly trigger observation date after six months.
The payout at maturity will be par unless the shares finish below the knock-in level, 53% of the initial level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable reverse convertible securities
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Underlying stock: | Boeing Co.
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Amount: | $547,000
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Maturity: | Oct. 13, 2021
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Coupon: | 14.1% payable monthly if the stock closes at or above its coupon barrier level on a monthly observation date
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Price: | Par
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Payout at maturity: | Par unless stock finishes below knock-in price, in which case a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares
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Call: | At par if shares close at or above initial share price on any quarterly trigger observation date after six months
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Initial level: | $180.08
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Coupon barrier: | $95.4424, 53% of initial level
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Knock-in price: | $95.4424, 53% of initial level
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Pricing date: | July 8
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Settlement date: | July 13
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.25%
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Cusip: | 22550MGH6
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