By Susanna Moon
Chicago, Feb. 8 – Credit Suisse AG, London Branch priced $1.35 million of 7.25% autocallable reverse convertible securities due May 1, 2019 linked to Alexion Pharmaceuticals, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 52.5% knock-in level any day during the life of the notes, in which case investors will receive a number of Alexion shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable reverse convertible securities
|
| Underlying shares: | Alexion Pharmaceuticals, Inc. (Symbol: ALXN)
|
| Amount: | $1.35 million
|
| Maturity: | May 1, 2019
|
| Coupon: | 7.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless stock falls and ever closes below 52.5% knock-in level, in which case 7.8871 Alexion shares
|
| Call: | At par if each index closes at or above its initial level on any quarterly call observation date
|
| Initial level: | $126.79
|
| Knock-in level: | $66.56475, 52.5% of initial level
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22549JNR7
|
|
|
|
|
© 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.
