By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – Credit Suisse AG, London Branch priced $9 million of contingent income autocallable securities due May 11, 2021 linked to the shares of Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13.75% if the stock closes at or above the 55% downside threshold on the determination date for that month.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any monthly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its downside threshold, in which case investors will be fully exposure to any losses.
Credit Suisse Securities (USA) LLC is agent. Morgan Stanley Smith Barney LLC is a distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Zoom Video Communications, Inc.
|
| Amount: | $8,998,800
|
| Maturity: | May 11, 2021
|
| Coupon: | 13.75% annualized, payable monthly if stock closes at or above downside threshold level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | If final share price is at or above downside threshold, par plus contingent coupon; otherwise, lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial share price on any monthly determination date
|
| Initial share price: | $500.11
|
| Downside threshold: | $275.06, 55% of initial level
|
| Pricing date: | Nov. 6
|
| Settlement date: | Nov. 12
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 1.25%
|
| Cusip: | 22550X758
|
|
|
© 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.
