By Marisa Wong
Morgantown, W.Va., Dec. 12 – Credit Suisse AG priced $7.37 million of autocallable contingent income securities due Dec. 7, 2017 linked to the common units of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 12.5% if Blackstone units close at or above the 80% barrier level on a quarterly observation date.
The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 80% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Wealth Management is distributor.
| Issuer: | Credit Suisse AG
|
| Issue: | Autocallable contingent income securities
|
| Underlying units: | Blackstone Group LP (Symbol: BX)
|
| Amount: | $7,369,300
|
| Maturity: | Dec. 7, 2017
|
| Coupon: | 12.5% per year, payable quarterly if Blackstone units close at or above barrier level on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless stock finishes below knock-in level, in which case full exposure to any losses
|
| Call: | At par plus contingent coupon if Blackstone units close at or above initial share price on any determination date other than final date
|
| Initial price: | $25.86
|
| Barrier/knock-in level: | $20.69; 80% of initial price
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 7
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 22548T703
|
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