By Marisa Wong
Morgantown, W.Va., Dec. 12 – Credit Suisse AG priced $4.39 million of autocallable contingent income autocallable securities due Dec. 5, 2019 linked to the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 12.7% if Netflix shares close at or above the 65% 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 65% 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 shares: | Netflix, Inc. (Symbol: NFLX)
|
Amount: | $4,391,230
|
Maturity: | Dec. 5, 2019
|
Coupon: | 12.7% per year, payable quarterly if Netflix shares 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 Netflix shares close at or above initial share price on any determination date other than final date
|
Initial price: | $120.81
|
Barrier/knock-in level: | $78.53; 65% of initial price
|
Pricing date: | Dec. 2
|
Settlement date: | Dec. 7
|
Agent: | Credit Suisse Securities (USA) LLC
|
Distributor: | Morgan Stanley Wealth Management
|
Fees: | 2.5%
|
Cusip: | 22548T711
|
|
© 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.