New York, July 21 – Credit Suisse AG, London Branch priced $3.82 million of trigger autocallable contingent yield notes due July 17, 2020 linked to the class B common stock of Nike, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if the shares close at or above the coupon barrier level, 74.5% of the initial share price, on the observation date for that quarter.
Beginning Jan. 16, 2018, the notes will be automatically called at par of $10 if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 74.5% of the initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
UBS Financial Services Inc. is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Trigger autocallable contingent yield notes
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Underlying stock: | Class B common stock of Nike, Inc.
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Amount: | $3,820,300
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Maturity: | July 17, 2020
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Contingent coupon: | 7%, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial level
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Call: | Beginning Jan. 16, 2018, automatically at par if stock closes at or above initial level on any quarterly observation date
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Initial price: | $58.00
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Coupon barrier/downside threshold: | $43.21, 74.5% of initial price
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Pricing date: | July 14
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Settlement date: | July 19
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Agent: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 22549C535
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