By Kiku Steinfeld
Chicago, Aug. 17 – Credit Suisse AG, London Branch priced $600,000 of contingent coupon callable yield notes due Aug. 3, 2023 linked to the common units of Energy Transfer LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 13% if the stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any quarterly payment date.
The payout at maturity will be par unless the stock finishes below its 60% knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | Energy Transfer LP
|
| Amount: | $600,000
|
| Maturity: | Aug. 3, 2023
|
| Coupon: | 13% per year, payable quarterly if stock closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its 60% knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option
|
| Call: | At par on any quarterly coupon payment date
|
| Initial prices: | $9.86
|
| Coupon barrier level: | $5.916; 60% of initial level
|
| Knock-in level: | $5.916; 60% of initial level
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22550MVP1
|
|
|
© 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.
