By Kiku Steinfeld
Chicago, Nov. 15 – Credit Suisse AG, London Branch priced $2.6 million of contingent coupon autocallable yield notes due Nov. 5, 2024 to the common stock of Lucid Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual 21.085% rate if the stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be called at par if the stock closes at or above 80% of its initial level on any monthly autocall observation date after three months.
The payout at maturity will be par unless the stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Lucid Group, Inc
|
| Amount: | $2,603,000
|
| Maturity: | Nov. 5, 2024
|
| Coupon: | 21.085% annual rate, payable monthly if the stock closes at or above its coupon barrier level on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its knock-in level, in which case full exposure to the losses
|
| Call: | Automatically at par if the stock closes at or above 80% of initial level on any monthly autocall observation date after three months
|
| Initial price: | $36.99
|
| Autocall level: | $29.592, 80% of initial level
|
| Coupon barrier: | $22.194; 60% of initial level
|
| Knock-in level: | $18.495; 50% of initial level
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.5%
|
| Cusip: | 22552XZM8
|
|
|
|
|
© 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.
