Published on 9/24/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $130,000 8.5% autocallable reverse convertibles linked to Restoration Hardware
By Angela McDaniels
Tacoma, Wash., Sept. 24 – Credit Suisse AG, London Branch priced $130,000 of 8.5% autocallable reverse convertible securities due Sept. 26, 2016 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 March 22, 2016 or June 22, 2016.
The payout at maturity will be par unless Restoration Hardware shares close at or below the knock-in price, 70% of the initial share price, on any day during the life of the notes and finish below the initial share price, in which case investors will receive a number of Restoration Hardware 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: | Restoration Hardware Holdings, Inc. (Symbol: RH)
|
| Amount: | $130,000
|
| Maturity: | Sept. 26, 2016
|
| Coupon: | 8.5%, payable monthly
|
| Price: | Par
|
| 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 10.014 Restoration Hardware shares or amount in cash equal to value of those shares
|
| Call: | At par if Restoration Hardware shares close at or above initial share price on March 22, 2016 or June 22, 2016
|
| Initial share price: | $99.86
|
| Knock-in price: | $69.902, 70% of initial share price
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 25
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22546VM86
|
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