By William Gullotti
Buffalo, N.Y., March 4 – Credit Suisse AG, London Branch priced $4.47 million of 11.35% autocallable reverse convertible securities due April 4, 2023 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any monthly trigger observation date after six months.
The payout at maturity will be par unless the shares finish below the knock-in level, 66% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $4,466,000
|
| Maturity: | April 4, 2023
|
| Coupon: | 11.35% payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the shares finish below the knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares
|
| Call: | At par if shares close at or above initial share price on any monthly trigger observation date after six months
|
| Initial level: | $16.70
|
| Knock-in price: | $11.022; 66% of initial level
|
| Pricing date: | March 1
|
| Settlement date: | March 4
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.15%
|
| Cusip: | 22550MZB8
|
|
|
© 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.
