By Angela McDaniels
Tacoma, Wash., Jan. 30 – Credit Suisse AG, London Branch priced $2.8 million of contingent coupon autocallable yield notes due Jan. 30, 2017 linked to the common shares of Tesoro Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 11% per year if Tesoro shares close at or above the coupon barrier price, 50% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than the knock-in price, 70% of the initial share price, the payout will be par. Otherwise, investors will be fully exposed to the shares’ decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying shares: | Tesoro Corp. (Symbol: TSO)
|
| Amount: | $2.8 million
|
| Maturity: | Jan. 30, 2017
|
| Coupon: | Each quarter, notes pay coupon at rate of 11% per year if Tesoro shares close at or above coupon barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than knock-in price, par; otherwise, full exposure to shares’ decline
|
| Call: | Automatically at par if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $81.37
|
| Coupon barrier price: | $40.685, 50% of initial share price
|
| Knock-in price: | $56.959, 70% of initial share price
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 30
|
| Agents: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22546V3T1
|
© 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.
