By Susanna Moon
Chicago, April 15 – Credit Suisse AG, London Branch priced $724,000 of contingent coupon autocallable yield notes due Oct. 18, 2017 linked to the common stocks of Las Vegas Sands Corp. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 16.25% if each stock closes above its coupon barrier level, 60% of its initial level, on the observation date for that month.
The notes will be callable at par if each stock closes above its initial level on any observation date beginning July 13.
The payout at maturity will be par unless either stock finishes at or below its 60% knock-in level, in which case investors will be fully exposed to any losses of the worse performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Las Vegas Sands Corp. (Symbol: LVS) and Wynn Resorts, Ltd. (Symbol: WYNN)
|
| Amount: | $724,000
|
| Maturity: | Oct. 18, 2017
|
| Contingent coupon: | 16.25% annualized, payable monthly if each stock closes above its coupon barrier level on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes at or below knock-in level, in which case full exposure to any losses of worse performing stock
|
| Call option: | At par if each stock closes at or above the initial level on any observation date beginning July 13
|
| Initial level: | $49.53 for Las Vegas Sands and $97.19 for Wynn Resorts
|
| Barrier levels: | $29.718 for Las Vegas Sands and $58.314 for Wynn Resorts; 60% of initial level
|
| Pricing date: | April 8
|
| Settlement date: | April 13
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.875%
|
| Cusip: | 22548Q3M5
|
|
|
|
|
© 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.
