By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – Credit Suisse AG, London Branch priced $1.28 million of contingent coupon autocallable yield notes with memory feature due Sept. 23, 2027 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter the notes will pay a contingent coupon at an annual rate of 10.25% if the stock closes at or above the coupon barrier, 60% of the initial level, for that quarter, in which case any previously unpaid contingent coupons will also be paid.
The notes will be called at par plus the contingent coupon if stock closes at or above its initial price on any quarterly observation date after one year.
The payout at maturity will be par unless the shares close below the 60% knock-in level, in which case investors will lose 1% for each 1% decline.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes with memory feature
|
| Underlying stock: | Citigroup Inc.
|
| Amount: | $1,275,000
|
| Maturity: | Sept. 23, 2027
|
| Contingent payment: | 10.25% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter, in which case any previously unpaid contingent coupons will be also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless stock falls below knock-in level, in which case investors will lose 1% for each 1% decline.
|
| Call: | Automatically at par plus contingent payment if stock closes at or above initial price on any quarterly observation date after one year
|
| Initial price: | $47.25
|
| Coupon barrier/knock-in level: | $28.35, 60% of initial price
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.35%
|
| Cusip: | 22553QM61
|
|
|
© 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.
