By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – Credit Suisse AG, London Branch priced $4.81 million of contingent coupon autocallable reverse convertible securities due Sept. 26, 2025 linked to the lowest performing of the stocks of Apple Inc. and Deere & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9% if each stock closes at or above its coupon barrier price, 51% of its initial price, on the related observation date.
The notes will be called at par plus the coupon if all stocks close at or above their initial prices on any quarterly call observation date.
If all stocks finish at or above their knock-in prices, 51% of their initial prices, the payout will be par plus the final coupon. Otherwise, investors will receive a number of shares of the worst performer equal to $10,000 divided by that stock’s initial share price or cash at the issuer’s option.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable reverse convertible securities
|
| Underlying stocks: | Apple Inc. and Deere & Co.
|
| Amount: | $4,806,000
|
| Maturity: | Sept. 26, 2025
|
| Coupon: | 9% per year, payable quarterly if each stock closes at or above its coupon barrier price on the related observation date
|
| Price: | Par of $10,000
|
| Payout at maturity: | Par plus any final coupon due if no stock finishes below its knock-in price; otherwise, investors will receive number of shares of worst performer equal to that stock’s equity ratio or cash at the issuer’s option
|
| Call: | At par plus coupon if all stocks close at or above their initial prices on any quarterly call observation date
|
| Initial share prices: | $154.48 for Apple, $362.69 for Deere
|
| Coupon barrier prices: | $78.7848 for Apple, $184.9719 for Deere; 51% of initial prices
|
| Knock-in levels: | $78.7848 for Apple, $184.9719 for Deere; 51% of initial prices
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 22550MG29
|
|
|
|
|
© 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.
