New Issue: Credit Suisse sells $1 million 9% reverse convertible securities on Fulgent Genetics

By Kiku Steinfeld

Chicago, June 29 – Credit Suisse AG, London Branch priced $1 million of 9% reverse convertible securities due March 28, 2022 linked to the performance of the common stock of Fulgent Genetics, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annualized rate of 9%.

If the stock finishes at or above the knock-in price, 64.88% of the initial price, the payout will be par plus the final coupon. Otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Reverse convertible securities
Underlying stock:	Fulgent Genetics, Inc.
Amount:	$1 million
Maturity:	March 28, 2022
Coupon:	9% per year, or 2.25% for the term, payable monthly
Price:	Par
Payout at maturity:	Par plus the final coupon if the stock finishes equal to or above its knock-in price; otherwise, investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option
Initial share price:	$102.82
Knock-in level:	$66.71; 64.88% of initial price
Pricing date:	Dec. 22, 2021
Settlement date:	Dec. 28, 2021
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.9%
Cusip:	22550MYW3

© 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.