Published on 8/30/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $9.97 million 8% contingent coupon autocalls tied to Amazon
By Susanna Moon
Chicago, Aug. 30 – Credit Suisse AG, London Branch priced $9.97 million of contingent coupon autocallable yield notes due Aug. 27, 2021 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the underlying stock closes at or above its 67.5% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any review date.
The payout at maturity will be par unless the stock closes below its 67.5% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying assets: | Amazon.com, Inc. (Symbol: AMZN)
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Amount: | $9,965,800
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Maturity: | Aug. 27, 2021
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Coupon: | 8% annualized, payable quarterly if stock closes at or above 67.5% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless stock closes below 67.5% knock-in level, in which case 1% loss per 1% decline
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Call: | At par if asset closes at or above its initial level on any review date after six months
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Initial levels: | $1,905.39
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Barrier levels: | $1,286.14, 67.5% of initial levels
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Pricing date: | Aug. 24
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Settlement date: | Aug. 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1%
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Cusip: | 22549R250
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