Published on 9/2/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $755,000 12.5% autocallable yield notes linked to stocks
By Tali Rackner
Norfolk, Va., Sept. 2 – Credit Suisse AG, London Branch priced $755,000 of 12.5% autocallable yield notes due Sept. 6, 2017, linked to the common stock of Biogen Inc., ordinary shares of Mylan NV and common stock of Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above its initial level on any monthly observation date beginning Dec. 1.
The payout at maturity will be par unless any stock finishes below its knock-in level, 70% of its initial level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial price of that stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Biogen Inc. (Symbol: BIIB), Mylan NV (Symbol: MYL) and Celgene Corp. (Symbol: CELG)
|
| Amount: | $755,000
|
| Maturity: | Sept. 6, 2017
|
| Coupon: | 12.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case number of shares of lowest-performing stock equal to $1,000 divided by that stock’s initial share price or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | Beginning Dec. 1, automatically at par if each stock closes at or above initial share price on any monthly trigger observation date
|
| Initial levels: | 305.63 for Biogen, 42.36 for Mylan and 106.74 for Celgene
|
| Knock-in level: | 213.941 for Biogen, 29.652 for Mylan and 74.718 for Celgene; 70% of initial share prices
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 6
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.875%
|
| Cusip: | 22549JBN9
|
|
|
|
|
© 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.
