By Sarah Lizee
Olympia, Wash., Jan. 6 – Credit Suisse AG, London Branch priced $849,000 of contingent coupon autocallable yield notes due July 5, 2022 linked to the common stocks of Uber Technologies, Inc. and Lyft, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the coupon barrier level, 50% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 12% per year.
The notes will be called at par plus the contingent coupon if each stock closes at or above its trigger level, 90% of its initial share price, on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless either stock finishes below the 50% knock-in level, in which case investors will lose 1% for each 1% decline of the laggard stock.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | Uber Technologies, Inc. and Lyft, Inc.
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Amount: | $849,000
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Maturity: | July 5, 2022
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Contingent payment: | 12% per year, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either stock finishes below knock-in, in which case investors will lose 1% for each 1% decline of the laggard stock
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Call: | Automatically at par plus contingent coupon if each stock closes at or above its 90% trigger level on any quarterly observation date
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Initial share price: | $30.17 for Uber, $45.84 for Lyft
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Coupon barrier/knock-in levels: | $15.085 for Uber, $22.92 for Lyft; 50% of initial share prices
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Pricing date: | Dec. 27
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Settlement date: | Dec. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3%
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Cusip: | 22551NFQ4
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