By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – Credit Suisse AG, London Branch priced 1.87 million of 0% autocallable securities due Dec. 29, 2023 linked to the lowest performing of the stocks of American Express Co., Citigroup Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual redemption premium of 13.5% the least-performing stock closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and the final level of each stock is equal to or greater than 70% of its initial level, the payout at maturity will be par plus 40.5%.
If the final level of any stock is less than its knock-in level, investors will lose 1% for each 1% decline of the least performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying stocks: | American Express Co., Citigroup Inc. and Visa Inc.
|
| Amount: | $1,871,000
|
| Maturity: | Dec. 29 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If least-performing stock is equal to or greater than knock-in level, par plus 40.5%; otherwise, 1% loss for each 1% decline of least-performing stock
|
| Call: | Automatically at par plus annualized redemption premium of 13.5% if each stock closes at or above its initial level on any quarterly observation date after one year
|
| Initial levels: | $117.35 for American Express, $60.57 for Citigroup and $208.70 for Visa
|
| Knock-in levels: | $82.15 for American Express, $42.40 for Citigroup and $149.09 for Visa; 70% of initial levels
|
| Pricing date: | Dec. 24
|
| Settlement date: | Dec. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 22551F301
|
|
|
© 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.
