By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – Credit Suisse AG, London Branch, priced $803,000 of contingent coupon autocallable yield notes due Sept. 24, 2018 linked to United States Steel Corp. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 50% of the initial share price, on a monthly observation date, the notes will pay a contingent payment for that month at a rate of 16.456% per year.
If the closing share price is greater than or equal to the initial share price on any monthly observation date beginning on Dec. 20, 2016, the notes will be automatically redeemed at par plus the contingent payment.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the 50% knock-in price, in which case investors will be exposed to the stock’s decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | United States Steel Corp
|
| Amount: | $803,000
|
| Maturity: | Sept. 24, 2018
|
| Contingent payment: | 16.456% per year, payable monthly if U.S. Steel stock closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless share price finishes below 50% knock-in price, in which case exposure to decline
|
| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any monthly observation date beginning Dec. 20, 2016
|
| Initial share price: | $16.64
|
| Coupon barrier/knock-in price: | $8.32, 50% of initial share price
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 22549JBP4
|
|
|
© 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.
