Published on 1/16/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 reverse convertibles on Compania de Minas Buenaventura
By Wendy Van Sickle
Columbus, Ohio, Jan. 16 – Credit Suisse AG, London Branch priced $500,000 of 9.15% reverse convertible securities due Jan. 22, 2021 linked to the American Depository shares of Compania de Minas Buenaventura SAA, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be par unless the shares finish below the initial price and close below the 75% knock-in level on any day during the life of the notes, in which case investors will receive a number of the company’s 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
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Issue: | Reverse convertible securities
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Underlying stock: | Compania de Minas Buenaventura SAA
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Amount: | $500,000
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Maturity: | Jan. 22, 2021
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Coupon: | 9.15%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless stock finishes below initial price and closes below knock-in price on any day during life of notes, in which case a number of shares equal to $1,000 divided by the initial share price
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Initial price: | $13.97
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Knock-in price: | $10.4775, 75% of initial price
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Pricing date: | Jan. 14
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Settlement date: | Jan. 22
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | None
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Cusip: | 22549J5D8
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