E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/3/2013 in the Prospect News Structured Products Daily.

Credit Suisse contingent income notes on LinkedIn to settle April 24

By Marisa Wong

Madison, Wis., April 3 - Credit Suisse AG, Nassau Branch amended the settlement date for its upcoming contingent income autocallable securities due April 22, 2016 linked to LinkedIn Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will now price April 19 and settle April 24. The notes were previously expected to settle on April 25.

The notes will pay a contingent quarterly coupon at a rate of 3.125% to 3.625% if LinkedIn stock closes at or above the 70% downside threshold level on the determination date for that quarter.

If the shares close at or above the initial price on any of the first 11 quarterly determination dates, the notes will be called at par plus the contingent coupon.

If the notes are not called and LinkedIn stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of shares of LinkedIn stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.

Citigroup Global Markets Inc. is the placement agent, and Morgan Stanley Smith Barney LLC will handle distribution.

The Cusip number is 22539T761.


© 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.