Published on 12/12/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.29 million 8.5% contingent rate autocall reverse converts on Ford
By Susanna Moon
Chicago, Dec. 12 – Credit Suisse AG, London Branch priced $2.29 million of contingent coupon autocallable reverse convertible securities due March 1, 2019 linked to Ford Motor Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 8.5% if the stock closes at or above its 75% coupon barrier on an observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 75% knock-in level any day during the life of the notes, in which case investors will receive a number of Ford 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: | Contingent coupon autocallable reverse convertible securities
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| Underlying shares: | Ford Motor Co. (Symbol: F)
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| Amount: | $2,286,000
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| Maturity: | March 1, 2019
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| Coupon: | 8.5% annualized, payable monthly if stock closes at or above 75% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless stock falls and ever closes below 75% knock-in level, in which case | 81.9001 Ford shares
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| Call: | At par if each index closes at or above its initial level on May 29, 2018, Aug. 29, 2018 or Nov. 28, 2018
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| Initial price: | $12.21
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| Knock-in level: | $9.1575, 75% of initial level
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| Pricing date: | Nov. 28
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| Settlement date: | Dec. 1
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.25% Cusip:
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