By William Gullotti
Buffalo, N.Y., July 18 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable buffered securities due July 20, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 10.3% if the index closes at or above its coupon barrier, 80% of its initial level, on the related observation date.
The notes will be automatically called at par plus the coupon if the index closes at or above its initial level on any semiannual observation date after one year.
If the notes are not called and the index finishes at or above its 80% buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1.25% for each 1% loss beyond 20%.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable buffered securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,000,000
|
| Maturity: | July 20, 2026
|
| Coupon: | 10.3%, payable semiannually if index closes at or above coupon barrier on the corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above buffer level, par plus final coupon; otherwise, 1.25% loss for each 1% loss beyond 20%
|
| Call: | Automatically at par plus coupon if the index closes at or above the initial index level on any semiannual observation date after one year
|
| Initial level: | 3,801.78
|
| Coupon barrier: | 3,041.424; 80% of initial level
|
| Buffer level: | 3,041.424; 80% of initial level
|
| Pricing date: | July 13
|
| Settlement date: | July 18
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22553QCF2
|
|
|
|
|
© 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.
