By Sarah Lizee
Olympia, Wash., July 17 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Jan. 20, 2023 linked to General Electric Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 50% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 11.25% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above 90% of its initial price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par plus any coupon unless the share price finishes below its 50% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | General Electric Co.
|
| Amount: | $500,000
|
| Maturity: | Jan. 20, 2023
|
| Contingent payment: | 11.25% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless the share price finishes below knock-in, in which case investors will lose 1% for each 1% decline of the stock
|
| Call: | Automatically at par plus contingent coupon if the stock closes at or above 90% of its initial price on any quarterly trigger observation date
|
| Initial share price: | $7.14
|
| Coupon barrier: | $3.57, 50% of initial share price
|
| Knock-in price: | $3.57, 50% of initial share price
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.25%
|
| Cusip: | 22552WBR5
|
|
|
© 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.
