By Jennifer Chiou
New York, Nov. 20 – Credit Suisse AG, London Branch priced $2,255,000 of contingent coupon autocallable yield notes due Nov. 21, 2016 linked to the common stock of Keurig Green Mountain Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Keurig stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that period at a rate of 13.5% per year.
If the closing share price is greater than or equal to the initial share price on any quarterly observation date, the notes will be automatically redeemed at par plus the contingent payment.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the 70% knock-in price, in which case investors will receive a number of shares of Keurig stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Keurig Green Mountain Inc. (Symbol: GMCR)
|
| Amount: | $2,255,000
|
| Maturity: | Nov. 21, 2016
|
| Contingent payment: | 13.5% per year, payable quarterly if Keurig stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If share price finishes below 70% knock-in price, shares of Keurig stock equal to $1,000 divided by the initial share price or, at issuer’s option, equivalent cash value; otherwise, par
|
| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any quarterly observation date
|
| Initial share price: | $157.10
|
| Coupon barrier/knock-in price: | $109.97, 70% of initial share price
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 21
|
| Placement agent: | Incapital LLC
|
| Fees: | 3.125%
|
| Cusip: | 22547QWX0
|
|
|
© 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.
