Published on 4/16/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $4.5 million 7.3% reverse convertibles on Disney
By Marisa Wong
Madison, Wis., April 16 - Credit Suisse AG, London Branch priced $4.5 million of 7.3% reverse convertible securities due April 17, 2015 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $1,000 unless Disney stock falls by 25% or more during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Disney shares equal to par divided by the initial share price or, at the issuer's option, the value of those shares in cash.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Reverse convertible securities
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Underlying stock: | Walt Disney Co. (NYSE: DIS)
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Amount: | $4.5 million
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Maturity: | April 17, 2015
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Coupon: | 7.3%, payable monthly
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Price: | Par of $1,000
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Payout at maturity: | Par unless Disney stock falls to or below knock-in price during life of notes and finishes below initial share price, in which case 12.9853 Disney shares
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Initial share price: | $77.01
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Knock-in price: | $57.7575, 75% of initial price
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Pricing date: | April 14
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Settlement date: | April 17
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.1%
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Cusip: | 22547QM60
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