By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Credit Suisse AG, London Branch priced $1.46 million of contingent coupon autocallable yield notes due Dec. 23, 2022 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Ford Motor Co., General Motors Co. and Uber Technologies, Inc.
The notes will pay a quarterly contingent coupon at an annual rate of 16.3% 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 18, 2021.
The payout at maturity will be par unless any stock finishes below its 50% 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
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | Ford Motor Co., General Motors Co. and Uber Technologies, Inc.
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Amount: | $1.46 million
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Maturity: | Dec. 23, 2022
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Coupon: | 16.3% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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Price: | Par
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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
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Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date starting June 18, 2021
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Initial prices: | $9.08 for Ford, $42.03 for General Motors and $50.63 for Uber
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Coupon barriers: | $5.448 for Ford, $25.218 for General Motors and $30.378 for Uber; 60% of initial levels
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Knock-in levels: | $4.54 for Ford, $21.015 for General Motors and $25.315 for Uber; 50% of initial level
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Pricing date: | Dec. 18
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Settlement date: | Dec. 23
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.9%
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Cusip: | 22552WZ73
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