By Wendy Van Sickle
Columbus, Ohio, June 5 – Credit Suisse AG, London Branch priced $10 million of 13.15% autocallable fixed-income securities due June 7, 2021 linked to Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Credit Suisse will call the notes at par of $1,000 plus a coupon if the shares close at or above their initial share price on any monthly observation date.
The payout at maturity will be par unless the shares finish below their 70% buffer level, in which case investors will receive a number of Bank of America shares equal to $1,000 divided by the buffer level or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is a distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable fixed-income securities
|
| Underlying shares: | Bank of America Corp.
|
| Amount: | $10 million
|
| Maturity: | June 7, 2021
|
| Coupon: | 13.15%, payable monthly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless shares finish below buffer level, in which case number of Bank of America shares equal to $1,000 divided by buffer level or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | Automatically at par if stock closes at or above initial share price on any monthly observation date
|
| Initial level: | $24.61
|
| Buffer level: | $17.23; 70% of initial level
|
| Pricing date: | June 2
|
| Settlement date: | June 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 0.2%
|
| Cusip: | 22550MFN4
|
© 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.
