By Wendy Van Sickle
Columbus, Ohio, March 21 – Credit Suisse AG, London Branch priced $1.87 million of contingent coupon autocallable yield notes due April 3, 2019 linked to the common stock of Applied Materials, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter the notes will pay a contingent coupon at an annual rate of 15.25% if the stock closes at or above the coupon barrier, 75% of the initial level, for that quarter.
The notes will be called at par plus the contingent coupon if stock closes at or above its initial price on a quarterly trigger observation date.
The payout at maturity will be par unless the shares close below the 75% knock-in level, in which case investors will receive a number of Applied Materials shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
J.P. Morgan is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying stock: | Applied Materials, Inc.
|
Amount: | $1.87 million
|
Maturity: | April 3, 2019
|
Contingent payment: | 15.25% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless stock falls below knock-in level, in which case a number of Applied Materials shares equal to $1,000 divided by the initial share price
|
Call: | Automatically at par plus contingent payment if stock closes at or above trigger level on a quarterly trigger observation date
|
Initial price: | $59.44
|
Coupon barrier/knock-in level: | $44.58, 75% of initial level
|
Pricing date: | March 16
|
Settlement date: | March 21
|
Agent: | J.P. Morgan
|
Fees: | 1%
|
Cusip: | 22550WJW8
|
|
© 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.