By Tali Rackner
Minneapolis, Jan. 30 – Credit Suisse AG, London Branch, priced $8.56 million of 7.25% autocallable reverse convertible securities due April 30, 2019 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par unless the shares finish below the initial price and close below the 75% knock-in price any day during the life of the notes, in which case investors will receive a number of Bank of America shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC and Incapital LLC are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $8,558,000
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| Maturity: | April 30, 2019
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| Contingent coupon: | 7.25%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below initial price and closes below knock-in price any day during life of notes, in which case a number of Bank of America shares equal to $1,000 divided by the initial share price
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| Call: | At par plus the coupon if shares close at or above initial share price on any monthly observation date
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| Initial price: | $32.20
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| Knock-in price: | $24.15, 75% of initial share price
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agents: | Credit Suisse Securities (USA) LLC and Incapital LLC
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| Fees: | 2.25%
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| Cusip: | 22549JNP1
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