Published on 7/12/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $386,000 of autocallable reverse convertibles on Facebook
By Devika Patel
Knoxville, Tenn., July 12 – Credit Suisse AG, London Branch, priced $386,000 of 6.15% autocallable reverse convertible securities due Oct. 12, 2018 linked to Facebook, Inc. class A common shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if Facebook shares close at or above the initial share price on Jan. 9, 2018, April 9, 2018 or July 9, 2018.
The payout at maturity will be par unless Facebook shares ever 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 investors will receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
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: | $386,000
|
| Maturity: | Oct. 12, 2018
|
| Coupon: | 6.15%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Facebook stock falls and ever closes at or below knock-in price during life of notes, in which case a number of Facebook shares equal to $1,000 divided by the initial share price or cash equivalent
|
| Call: | At par if Facebook shares close at or above initial share price on Jan. 9, 2018, April 9, 2018 or July 9, 2018
|
| Initial level: | $151.44
|
| Knock-in price: | $113.58, 75% of initial share price
|
| Pricing date: | July 7
|
| Settlement date: | July 12
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22549JHT0
|
|
|
|
|
© 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.
