Published on 10/17/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $890,000 autocallable reverse convertibles on Restoration Hardware
By Jennifer Chiou
New York, Oct. 17 – Credit Suisse AG, London Branch priced $890,000 of 10% autocallable reverse convertible securities due Oct. 20, 2015 linked to the common stock of Restoration Hardware Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Restoration Hardware shares close at or above the initial share price on April 15 or July 15, 2015.
The payout at maturity will be par unless Restoration Hardware shares close at or below the knock-in price, 65% of the initial share price, during the life of the notes and finish below the initial share price, in which case the payout will be a number of Restoration Hardware shares equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | Restoration Hardware Holdings, Inc. (Symbol: RH)
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| Amount: | $890,000
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| Maturity: | Oct. 20, 2015
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| Coupon: | 10%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless Restoration Hardware stock closes at or below knock-in price during life of notes and finishes below initial share price, in which case 13.33689 Restoration Hardware shares
|
| Call: | At par if Restoration Hardware shares close at or above initial share price on April 15 or July 15, 2015
|
| Initial share price: | $74.98
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| Knock-in price: | $48.737, 65% of initial share price
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| Pricing date: | Oct. 15
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| Settlement date: | Oct. 20
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22547QUK0
|
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