New Issue: Credit Suisse prices $564,000 9.5% autocallable reverse convertibles linked to Aruba

By Toni Weeks

San Luis Obispo, Calif., May 27 - Credit Suisse AG, London Branch priced $564,000 of 9.5% autocallable reverse convertible notes due May 28, 2015 linked to the common stock of Aruba Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if Aruba shares close at or above the initial share price on Nov. 24, Feb. 24, 2015 or May 22, 2015.

The payout at maturity will be par unless Aruba shares close at or below the knock-in price, 60% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of Aruba shares equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable reverse convertible securities
Underlying stock:	Aruba Networks, Inc. (Symbol: ARUN)
Amount:	$564,000
Maturity:	May 28, 2015
Coupon:	9.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless Aruba stock falls below knock-in price during life of notes and finishes below initial share price, in which case a number of Aruba shares equal to $1,000 divided by initial share price
Call:	At par if closing share price on Nov. 24, Feb. 24, 2015 or May 22, 2015 is at or above initial share price
Initial share price:	$20.06
Knock-in price:	$12.036, 60% of initial share price
Pricing date:	May 22
Settlement date:	May 28
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.1%
Cusip:	22547QNA0

© 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.