By Susanna Moon
Chicago, March 9 – Credit Suisse AG, London Branch priced $225,000 of 9.5% autocallable reverse convertible securities due May 28, 2019 linked to Bank of America Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 70% knock-in level any day during the life of the notes, in which case investors will receive a number of BofA shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying shares: | Bank of America Corp. (Symbol: BAC)
|
| Amount: | $225,000
|
| Maturity: | May 28, 2019
|
| Coupon: | 9.5% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless stock falls and ever closes below 70% knock-in level, in which case 31.2207 Bank of America shares
|
| Call: | At par if stock closes at or above its initial level on any quarterly call observation date
|
| Initial level: | $32.03
|
| Knock-in level: | $22.421, 70% of initial level
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Agent: | Incapital LLC
|
| Fees: | 1%
|
| Cusip: | 22549JQE3
|
|
|
|
|
© 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.
