By Kiku Steinfeld
Chicago, Sept. 15 – Credit Suisse AG, London Branch priced $7.65 million of contingent income autocallable securities due Sept. 6, 2023 linked to the least performing of the common stocks of Walt Disney Co. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 12.75% per year if each stock closes at or above its downside threshold, 60% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either stock finishes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing stock declines from its initial level.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Wealth Management is a distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Walt Disney Co. and Netflix Inc.
|
| Amount: | $7,645,590
|
| Maturity: | Sept. 6, 2023
|
| Coupon: | 12.75% per year, payable quarterly if each stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below downside threshold level, in which case 1% loss for every 1% that least-performing stock declines from initial level
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly determination date
|
| Initial levels: | $131.87 for Disney and $529.56 for Netflix
|
| Downside thresholds: | $79.12 for Disney and $317.74 for Netflix, or 60% of initial levels
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 22550X469
|
|
|
© 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.
