Published on 9/6/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.03 million 7.15% one-year reverse convertibles on Facebook
By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Credit Suisse AG, London Branch priced $1.03 million 7.15% reverse convertible securities due Sept. 7, 2018 linked to class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the shares finish below the initial price and close at or below the 80% knock-in level on any day during the life of the notes, 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
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Issue: | Reverse convertible securities
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Underlying stock: | Facebook, Inc.
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Amount: | $1,027,000
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Maturity: | Sept. 7, 2018
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Coupon: | 7.15%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Facebook stock finishes below initial level and closes below knock-in price any day during life of notes, in which case a number of shares equal to $1,000 divided by the initial share price or cash equivalent
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Initial level: | $172.02
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Knock-in price: | $136.616, 80% of initial share price
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Pricing date: | Sept. 1
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Settlement date: | Sept. 7
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.025%
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Cusip: | 22549JKA7
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