Published on 1/18/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $10 million two-year review notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 18 – Credit Suisse AG, London Branch priced $10 million of 0% review notes due Jan. 15, 2020 linked to the least performing of the common stocks of United Technologies Corp. and Morgan Stanley and the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium at an annual rate of 19.8% if each stock closes at or above its call level, 80% of its initial level, on either of two annual review dates.
If the notes are not called, investors will be fully exposed to the loss of the worst performing stock.
J.P. Morgan Securities LLC is the placement agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Review notes
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Underlying assets: | United Technologies Corp., Morgan Stanley and Alphabet Inc.
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Amount: | $10 million
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Maturity: | Jan. 15, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Full exposure to loss of the worst performing stock
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Call: | At par plus 19.8% per year if each stock closes at or above call level on either of two annual review dates
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Initial levels: | $136.58 for United Technologies, $55.12 for Morgan Stanley and $1,130.65 for Alphabet
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Call levels: | $109.26 for United Technologies, $44.12 for Morgan Stanley and $904.52 for Alphabet; 80% of initial levels
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Pricing date: | Jan. 16
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Settlement date: | Jan. 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 22550W6V4
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