By Kiku Steinfeld
Chicago, Dec. 20 – Credit Suisse AG, London Branch priced $535,000 of contingent coupon autocallable yield notes due June 16, 2023 linked to the common stock of Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annualized rate of 30% if the stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for the period.
The notes will be called at par if the shares close at or above their initial share price on any quarterly trigger observation date after six months.
If the notes are not called, the payout at maturity will be par unless the stock closes below its 60% knock-in level on any day during the life of the notes, in which case the payout will be par plus the stock’s return, subject to a maximum payout of par.
The placement agent is Incapital LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Peloton Interactive, Inc.
|
| Amount: | $535,000
|
| Maturity: | June 16, 2023
|
| Coupon: | 30% annual rate, payable monthly if stock closes above coupon barrier on observation day for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless stock closes below knock-in level during life of notes, in which case par plus stock return, subject to maximum payout of par
|
| Call: | Automatically at par if shares close at or above initial share price on any quarterly trigger observation date after six months
|
| Initial level: | $41.34
|
| Coupon barrier price: | $28.938; 70% of initial share price
|
| Knock-in price: | $24.804; 60% of initial share price
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 16
|
| Placement agent: | Incapital LLC
|
| Fees: | 2.75%
|
| Cusip: | 22553PCB3
|
|
|
|
|
|
|
© 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.
