By Sarah Lizee
Olympia, Wash., March 27 – Credit Suisse AG, London Branch priced $1.32 million of contingent coupon autocallable reverse convertible securities due June 29, 2020 linked to the common stock of AT&T Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 7% if the stock closes at or above its 75% knock-in level on a monthly observation date.
The notes will be called at par if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the shares finish below the initial level and have ever closed below the knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC and Incapital LLC are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable reverse convertible securities
|
| Underlying stock: | AT&T Inc.
|
| Amount: | $1,315,000
|
| Maturity: | June 29, 2020
|
| Coupon: | 7%, payable monthly if stock closes at or above knock-in price on a monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below initial level and ever closes below knock-in price, in which case a number of shares equal to $1,000 divided by the initial share price
|
| Call: | At par if shares close at or above initial share price on any quarterly observation date
|
| Initial level: | $30.77
|
| Knock-in price: | $23.0775, 75% of initial share price
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agents: | Credit Suisse Securities (USA) LLC and Incapital LLC
|
| Fees: | 2.25%
|
| Cusip: | 22549JG46
|
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