By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Credit Suisse AG, London Branch priced $16.33 million of 0% autocallable securities due Dec. 18, 2025 linked to the lowest performing of the Energy Select Sector SPDR fund, Industrial Select Sector SPDR fund and Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual redemption premium of 11% the least-performing fund closes at or above its initial level on a quarterly observation date after one year.
If the notes are not called and the final level of each fund is equal to or greater than 75% of its initial level, the payout at maturity will be par plus 55%.
If the final level of any index is less than its knock-in level, investors will lose 1% for each 1% decline of the least performing index from its initial level.
The agent is Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying funds: | Energy Select Sector SPDR fund, Industrial Select Sector SPDR fund, Health Care Select Sector SPDR fund
|
| Amount: | $16,328,000
|
| Maturity: | Dec. 18, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least-performing index is equal to or greater than knock-in level, par plus 55%; otherwise, 1% loss for each 1% decline of least-performing index
|
| Call: | Automatically at par plus annualized redemption premium of 11% if each index closes at or above its initial level on a quarterly observation date after one year
|
| Initial levels: | $39.68 for Energy, $87.62 for Industrial and $110.84 for Health
|
| Knock-in levels: | $29.76 for Energy, $65.72 for Industrial and $83.13 for Health; 75% of initial levels
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 17
|
| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC | as dealer
|
| Fees: | 3.5%
|
| Cusip: | 22551F178
|
|
|
© 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.
