By Kiku Steinfeld
Chicago, Feb. 1 – Credit Suisse AG, London Branch priced $5.04 million of contingent coupon autocallable reverse convertible securities due Feb. 28, 2022 linked to the common stock of WW International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 15% if the stock closes at or above its 46% knock-in level on a monthly observation date.
The notes will be called at par if the shares close at or above the initial share price on any monthly trigger observation date after six months.
The payout at maturity will be par unless the shares finish below the knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price 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.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable reverse convertible securities
|
| Underlying stock: | WW International, Inc.
|
| Amount: | $5,039,000
|
| Maturity: | Feb. 28, 2022
|
| Coupon: | 15% payable monthly if the stock closes at or above its knock-in level on a monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in price, in which case a number of shares equal to $1,000 divided by the initial share price
|
| Call: | At par if shares close at or above initial share price on any monthly trigger observation date after six months
|
| Initial level: | $24.94
|
| Knock-in price: | $11.4724, 46% of initial share price
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.15%
|
| Cusip: | 22550MPG8
|
|
|
|
|
© 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.
