Published on 12/23/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.25 million 9.75% autocallable reverse convertibles on Amazon
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Credit Suisse AG, London Branch priced $1.25 million of 9.75% autocallable reverse convertible securities due Dec. 26, 2017 linked to Amazon.com, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if Amazon shares close at or above the initial share price on June 20, 2017 and Sept. 20, 2017.
The payout at maturity will be par unless Amazon shares ever close at or below the knock-in price, 70% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Amazon 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
|
Issue: | Autocallable reverse convertible securities
|
Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
|
Amount: | $1,253,000
|
Maturity: | Dec. 26, 2017
|
Coupon: | 9.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless Amazon stock finishes below initial share price and ever closes at or below knock-in price during life of notes, in which case a number of Amazon shares equal to $1,000 divided by the initial share price
|
Call: | At par if Amazon shares close at or above initial share price on June 20, 2017 and Sept. 20, 2017
|
Initial level: | $771.22
|
Knock-in price: | $539.854, 70% of initial share price
|
Pricing date: | Dec. 20
|
Settlement date: | Dec. 23
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.6%
|
Cusip: | 22549JDK3
|
|
© 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.