New Issue: Credit Suisse prices $600,000 13.25% autocallable yield notes on Facebook, Celgene

By Tali Rackner

Norfolk, Va., April 6 – Credit Suisse AG, London branch priced $600,000 of 13.25% autocallable yield notes due Oct. 3, 2016 linked to the class A common stock of Facebook, Inc. and the common stock of Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each stock closes at or above its initial level on either call date.

The payout at maturity will be par unless either stock closes at or below its knock-in level, 80% of its initial level, in which case the payout will be the number of shares of the lowest performing stock equal to the physical delivery amount, plus a cash amount in respect of any fractional share.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable yield notes
Underlying stocks:	Facebook, Inc. and Celgene Corp.
Amount:	$600,000
Maturity:	Oct. 3, 2016
Coupon:	13.25%, payable monthly
Price:	Par
Payout at maturity:	Par unless either stock closes at or below knock-in level, in which case number of shares of worst-performing stock equal to the physical deliver amount
Call:	At par if each stock closes at or above initial level on Aug. 31 or Nov. 30, 2016
Initial levels:	$116.14 for Facebook, $100.15 for Celgene
Knock-in levels:	$92.912 for Facebook, $80.12 for Celgene; 80% of initial levels
Pricing date:	March 30
Settlement date:	March 31
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	2.5%
Cusip:	22548Q2L8

© 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.