By Taylor Fox
New York, Dec. 23 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Dec. 12, 2022 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are salesforce.com, inc., Ford Motor Co. and Walgreens Boots Alliance, Inc.
The notes will pay a quarterly contingent coupon at an annual rate of 16% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date starting June 7.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | salesforce.com, inc., Ford Motor Co. and Walgreens Boots Alliance, Inc.
|
| Amount: | $1 million
|
| Maturity: | Dec. 12, 2022
|
| Coupon: | 16% per year, payable quarterly if each stock closes at or above its coupon barrier level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date starting June 7
|
| Initial prices: | $225.86 for salesforce, $9.34 for Ford and $43.41 for Walgreens
|
| Coupon barriers: | $135.516 for salesforce, $5.604 for Ford and $26.046 for Walgreens; 60% of initial levels
|
| Knock-in levels: | $135.516 for salesforce, $5.604 for Ford and $26.046 for Walgreens; 60% of initial levels
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 10
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.9%
|
| Cusip: | 22552WXC4
|
|
|
© 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.
