By Angela McDaniels
Tacoma, Wash., Nov.8 – Credit Suisse AG priced $1.18 million of autocallable contingent income securities due Nov. 9, 2017 linked to the common stock of HP Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 11% per year if the stock closes at or above its knock-in level, 75% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any quarterly observation date.
If the stock finishes at or above its knock-in level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the stock’s decline from its initial share price.
Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is acting as distributor.
| Issuer: | Credit Suisse AG
|
| Issue: | Autocallable contingent income securities
|
| Underlying stock: | HP Inc. (Symbol: HPQ)
|
| Amount: | $1,179,350
|
| Maturity: | Nov. 9, 2017
|
| Coupon: | 11% per year, payable quarterly if stock closes at or above knock-in level on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If stock finishes at or above knock-in level, par plus final contingent coupon; otherwise, full exposure to stock’s decline from initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $14.71
|
| Knock-in level; | $11.03, 75% of initial share price
|
| Pricing date: | Nov. 4
|
| Settlement date: | Nov. 9
|
| Agent: | Credit Suisse Securities (USA) Inc.
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 22548T505
|
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