Published on 7/27/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $407,000 10% autocallable reverse convertibles linked to GameStop
By Susanna Moon
Chicago, July 27 – Credit Suisse AG, London Branch priced $407,000 of 10% autocallable reverse convertible securities due July 28, 2016 linked to the class A common stock of GameStop 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 the stock closes at or above the initial level on Jan. 25, 2016 or April 25, 2016.
The payout at maturity will be par unless GameStop stock ever closes at or below the 70% knock-in level during the life of the notes and finishes below the initial level, in which case the payout will be a number of GameStop shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | GameStop Corp. (Symbol: GME)
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| Amount: | $407,000
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| Maturity: | July 28, 2016
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| Coupon: | 10%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless GameStop stock closes at or below knock-in price during life of notes and finishes below initial share price, in which case number of GameStop shares equal to $1,000 divided by initial price or cash equal to value of those shares
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| Call: | At par if GameStop shares close at or above initial share price on Jan. 25, 2016 or April 25, 2016
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| Initial share price: | $46.94
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| Knock-in price: | $32.858, 70% of initial share price
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| Pricing date: | July 23
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| Settlement date: | July 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.1%
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| Cusip: | 22546VH41
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