By Marisa Wong
Madison, Wis., March 13 – Credit Suisse AG, London Branch priced $1.63 million of 11% autocallable reverse convertible securities due March 14, 2016 linked to GameStop Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus accrued interest if the stock closes at or above the initial share price on any of two trigger observation dates, which are Sept. 9 and Dec. 9, 2015.
A knock-in event will occur if the stock price closes at or below the knock-in price, 60% of the initial share price, on any trading day during the life of the notes.
If the notes are not called and a knock-in event does not occur, or if it does but the final share price is greater than or equal to the initial price, the payout at maturity will be par.
If a knock-in event occurs and the final share price is less than the initial price, investors will receive a number of shares of GameStop stock equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | GameStop Corp. (Symbol: GME)
|
| Amount: | $1,629,000
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| Maturity: | March 14, 2016
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| Coupon: | 11%, payable monthly
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| Price: | Par
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| 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, 24.600246 GameStop shares; otherwise, par
|
| Call: | At par if stock closes at or above initial price on Sept. 9 or Dec. 9, 2015
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| Initial share price: | $40.65
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| Knock-in price: | $24.39, 60% of initial share price
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| Pricing date: | March 10
|
| Settlement date: | March 13
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
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| Cusip: | 22546V6Q4
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