Chicago, Aug. 20 – Credit Suisse AG, London Branch priced $3.25 million of autocallable contingent income notes due Feb. 14, 2022 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 9.5% if the shares close at or above the coupon barrier, 80% of the initial level, on every trading day during that observation period.
The notes will be automatically called at par of $10 plus the coupon if the stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the closing share price is greater than or equal to the 80% downside threshold on each trading day during the observation period ending on Feb. 9, 2022, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% decline.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC will act as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable contingent income notes
|
| Underlying stock: | Walt Disney Co.
|
| Amount: | $3,250,000
|
| Maturity: | Feb. 14, 2022
|
| Coupon: | 9.5%, payable quarterly if shares close at or above coupon barrier on every day during that observation period
|
| Price: | Par of $10
|
| Call: | At par plus coupon if shares close at or above initial price on any quarterly observation date
|
| Payout at maturity: | Par plus coupon unless stock finishes below downside threshold on any day during final observation period, in which case 1% loss for every 1% decline
|
| Initial price: | $138.52
|
| Coupon barrier/downside threshold: | $110.82, 80% of initial price
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 14
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.5%
|
| Cusip: | 22550F849
|
|
|
© 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.
