By Taylor Fox
New York, Dec. 30 – Credit Suisse AG, London Branch priced $10 million of buffered contingent coupon autocallable yield notes due Dec. 8, 2021 linked to the common stock of Biogen Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 15.25% for that period, and all prior unpaid contingent coupons, if any.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below the 80% buffer level, in which case investors will lose 1.25% for every 1% that the stock declines beyond 20%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Buffered contingent coupon autocallable yield notes
|
| Underlying stock: | Biogen Inc.
|
| Amount: | $10 million
|
| Maturity: | Dec. 8, 2021
|
| Coupon: 15.25% annual rate, payable if stock closes at or above buffer level on quarterly observation date, and also prior unpaid contingent coupons, if any
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below buffer level, in which case investors will lose 1.25% for every 1% that stock declines beyond 20%
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $246.92
|
| Buffer level: | $197.54, 80% of initial share price
|
| Coupon barrier level: | $197.54, 80% of initial share price
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 8
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 0.5%
|
| Cusip: | 22552WWU5
|
|
|
© 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.
