By Angela McDaniels
Tacoma, Wash., June 23 – Credit Suisse AG, Nassau Branch priced $99 million of 8% equity-linked notes due June 23, 2015 linked to the common stock of Medtronic, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face amount of $64.87, which is equal to the initial price of Medtronic stock.
If the final share price is less than 107% of the initial share price, the payout at maturity will be 93.46% of the final share price, subject to a minimum of $48.51 per note.
If the final share price is greater than or equal to 107% of the initial share price and less than 110.35% of the initial share price, the payout will be par.
Otherwise, the payout will be par plus 0.65% for every 1% that the final share price exceeds 110.35% of the initial share price.
At its option, the issuer can make the payout in cash or Medtronic stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, Nassau Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Medtronic, Inc. (Symbol: MDT)
|
| Amount: | $99,000,053.10
|
| Maturity: | June 23, 2015
|
| Coupon: | 8%, payable monthly
|
| Price: | Par of $64.87
|
| Payout at maturity: | If final share price is less than or equal to lower put strike price, then 93.46% of lower put strike price; if final share price is greater than lower put strike price and less than upper put strike price, then 93.46% of final share price; if final share price is greater than or equal to upper put strike price and less than call strike price, then par; otherwise, par plus 65% of amount by which final share price exceeds call strike price; payable in cash or Medtronic stock
|
| Initial share price: | $64.87
|
| Lower put strike price: | $51.90, 80% of initial share price
|
| Upper put strike price: | $69.41, 107% of initial share price
|
| Call strike price: | $71.58, 110.35% of initial share price
|
| Pricing date: | June 19
|
| Settlement date: | June 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22539T472
|
© 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.
