Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $931,000 contingent coupon autocallable yield notes on three stocks
Chicago, Oct. 10 – Credit Suisse AG, London Branch priced $931,000 of contingent coupon autocallable yield notes due March 24, 2022 linked to the lowest performing of the stocks of Amazon.com, Inc., Cisco Systems, Inc. and UnitedHealth Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 12.85% if each stock closes at or above its barrier level, 70% of its initial level, on a related observation date.
The notes will be called at par if each stock closes above 90% of its initial level, the trigger level, on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Amazon.com, Inc., Cisco Systems, Inc. and UnitedHealth Group Inc.
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| Amount: | $931,000
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| Maturity: | March 24, 2022
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| Coupon: | 12.85% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses
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| Call: | At par if each stock closes above 90% trigger level on any quarterly observation date
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| Initial levels: | $1,821.50 for Amazon, $49.19 for Cisco, $232.85 for UnitedHealth
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| Coupon barrier levels: | $1,275.05 for Amazon, $34.433 for Cisco, $162.995 for UnitedHealth, 70% of initial levels
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| Knock-in levels: | $1,275.05 for Amazon, $34.433 for Cisco, $162.995 for UnitedHealth, 70% of initial levels
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| Trigger levels: | $1,639.35 for Amazon, $44.271 for Cisco, $209.565 for UnitedHealth, 90% of initial levels
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22552FXD9
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