Published on 11/20/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.18 million contingent coupon autocallable yield notes on Amazon
Chicago, Nov. 20 – Credit Suisse AG, London Branch priced $4.18 million of contingent coupon autocallable yield notes due Feb. 18, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month the notes will pay a contingent coupon at an annual rate of 9.75% if the stock closes at or above the coupon barrier, 69% of the initial level, on the observation date for that month.
The notes will be called at par plus the contingent coupon if stock closes at or above its initial price on a trigger observation date: May 13, 2019, Aug. 13, 2019 or Nov. 13, 2019.
The payout at maturity will be par unless the shares close below the 69% knock-in level, in which case investors will lose 1% for each 1% decline in the stock from its initial level.
Credit Suisse Securities (USA) LLC and Incapital LLC are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Amazon.com, Inc. (AMZN)
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| Amount: | $4,182,000
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| Maturity: | Feb. 18, 2020
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| Contingent payment: | 9.75% per year, payable monthly if stock closes at or above coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline
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| Call: | Automatically at par plus contingent payment if stock closes at or above initial price on a trigger observation date: May 13, 2019, Aug. 13, 2019 or Nov. 13, 2019
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| Initial price: | $1,631.17
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| Coupon barrier/knock-in: | $1,125.5073, 69% of initial price
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 16
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| Placement agents: | Credit Suisse Securities (USA) LLC and Incapital LLC
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| Fees: | 2.25%
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| Cusip: | 22551LKG4
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