By Susanna Moon
Chicago, April 16 – Credit Suisse AG, London Branch priced $447,000 of contingent coupon autocallable reverse convertible notes due July 10, 2019 linked to Celgene Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% if the underlying asset closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 70% knock-in level any day during the life of the notes, in which case investors will receive a number of 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 notes
|
Underlying stock: | Celgene Corp. (Symbol: CELG)
|
Amount: | $447,000
|
Maturity: | July 10, 2019
|
Contingent coupon: | 9.5% annualized, payable monthly if asset closes at or above its 70% coupon barrier on observation date for that month
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below initial level and ever closes at or below barrier during life of notes, in which case a number of shares equal to $1,000 divided by the initial share price
|
Call: | At par plus the coupon if stock closes at or above initial share price on any quarterly observation date beginning Oct. 5, 2018
|
Initial price: | $88.84
|
Barrier price: | $62.188, 70% of initial price
|
Pricing date: | April 5
|
Settlement date: | April 10
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 0.75%
|
Cusip: | 22549JSQ4
|
|
|
© 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.