By Kiku Steinfeld
Chicago, March 17– Credit Suisse AG, London Branch priced $1.69 million of contingent coupon autocallable yield notes due Sept. 6, 2022 linked to Moderna, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 60% of the initial share price, on a monthly observation date, the notes will pay a contingent coupon for that month at a rate of 13% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above its trigger level, 85% of its initial price, on any monthly trigger observation date after three months other than the final one.
If the notes are not called, the payout at maturity will be par unless the share price finishes below the 50% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Moderna, Inc.
|
| Amount: | $1,691,000
|
| Maturity: | Sept. 6, 2022
|
| Contingent coupon: | 13% per year, payable monthly if stock closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of stock
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above trigger level on any monthly observation date after three months other than final one
|
| Initial price: | $146.81
|
| Trigger level: | $124.7885, 85% of initial price
|
| Coupon barrier level: | $88.086, 60% of initial price
|
| Knock-in level: | $73.405, 50% of initial price
|
| Pricing date: | March 2
|
| Settlement date: | March 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.225%
|
| Cusip: | 22552XDC4
|
|
|
© 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.
