Published on 1/13/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $468,000 8.25% autocallable reverse convertibles linked to Facebook
By Angela McDaniels
Tacoma, Wash., Jan. 13 – Credit Suisse AG, London Branch priced $468,000 of 8.25% autocallable reverse convertible securities due Jan. 14, 2016 linked to the class A common stock of Facebook Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Facebook shares close at or above the initial share price on July 9, 2015 or Oct. 9, 2015.
The payout at maturity will be par unless Facebook shares close at or below the knock-in price, 75% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | Facebook Inc. (Symbol: FB)
|
| Amount: | $468,000
|
| Maturity: | Jan. 14, 2016
|
| Coupon: | 8.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Facebook stock closes at or below knock-in price during life of notes and finishes below initial share price, in which case 12.863391 Facebook shares or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | At par if Facebook shares close at or above initial share price on July 9, 2015 or Oct. 9, 2015
|
| Initial share price: | $77.74
|
| Knock-in price: | $58.305, 75% of initial share price
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22547QXX9
|
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