New Issue: Credit Suisse prices $1.33 million autocallable reverse convertibles on Marathon

By Marisa Wong

Madison, Wis., July 8 – Credit Suisse AG, London Branch priced $1.33 million of 8.25% autocallable reverse convertible securities due July 6, 2016 linked to the common stock of Marathon Oil Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if Marathon shares close at or above the initial share price on Dec. 31 or April 1, 2016.

The payout at maturity will be par unless Marathon shares close at or below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Marathon shares equal to $1,000 divided by the initial share price.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable reverse convertible securities
Underlying stock:	Marathon Oil Corp. (Symbol: MRO)
Amount:	$1,334,000
Maturity:	July 6, 2016
Coupon:	8.25%, payable monthly
Price:	Par of $1,000
Payout at maturity:	If stock ever closes at or below knock-in price during life of notes and final share price is less than initial share price, number of Marathon shares equal to par divided by the initial share price; otherwise, par
Call:	At par if stock closes at or above initial price on Dec. 31 or April 1, 2016
Initial share price:	$26.54
Knock-in price:	$19.905, 75% of initial share price
Pricing date:	June 30
Settlement date:	July 6
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.1%
Cusip:	22546VFW1

© 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.