By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – Credit Suisse AG, London Branch priced $1.88 million of contingent coupon callable yield notes due Aug. 13, 2021 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 9.3% if the stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any payment date.
The payout at maturity will be par unless the stock finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | Apple Inc.
|
| Amount: | $1,876,000
|
| Maturity: | Aug. 13, 2021
|
| Coupon: | 9.3% per year, payable quarterly if stock closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to the loss
|
| Call: | At par on any coupon payment date
|
| Initial prices: | $203.43
|
| Coupon barrier level: | $142.401; 70% of initial level
|
| Knock-in level: | $142.401; 70% of initial level
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 13
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
|
|
© 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.
