By Kiku Steinfeld
Chicago, April 8 – Credit Suisse AG, London Branch priced $1.03 million of contingent coupon autocallable yield notes due March 29, 2023 linked to the least performing of the common stocks of Norwegian Cruise Line Holdings Ltd. and Carnival Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 22.3% if each stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Norwegian Cruise Line Holdings Ltd. and Carnival Corp.
|
| Amount: | $1,025,000
|
| Maturity: | March 29, 2023
|
| Coupon: | 22.3% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date
|
| Initial prices: | $25.33 for Carnival, $26.60 for Norwegian
|
| Coupon barrier/knock-in levels: | $12.665 for Carnival, $13.30 for Norwegian; 50% of initial levels
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.9%
|
| Cusip: | 22552XH71
|
|
|
© 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.
