New Issue: Credit Suisse prices $15 million review notes on two stocks

By Wendy Van Sickle

Columbus, Ohio, June 22 – Credit Suisse AG, London Branch priced $15 million of 0% review notes due June 22, 2023 linked to the least performing of the PayPal Holdings, Inc. and Starbucks Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 15.1% per year if each underlying asset closes at or above its initial level on any annual review date, except for the final review date, in which case the call level will be 60% of each stock’s initial level.

If the notes are not called, the payout at maturity will be par plus the return of the worst performing stock.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	Credit Suisse AG, London Branch
Issue:	Review notes
Underlying assets:	PayPal Holdings, Inc. and Starbucks Corp.
Amount:	$15 million
Maturity:	June 22, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	1% loss for each 1% decline of worse performing stock, if notes are not called
Call:	At par plus a call premium of 15.1% per year if each underlying asset closes at or above its initial level on any annual review date, except for the final review date, in which case the call level will be 60% of each stock’s initial level
Initial levels:	$161.22 for PayPal, $77.84 for Starbucks
Pricing date:	June 17
Settlement date:	June 22
Agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	0.55%
Cusip:	22552WA70

© 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.