Published on 6/22/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $540,000 contingent coupon autocallables tied to three stocks
By Marisa Wong
Morgantown, W.Va., June 22 – Credit Suisse AG, London Branch priced $540,000 of contingent coupon autocallable yield notes due June 22, 2017 linked to the common stocks of Capital One Financial Corp. and American Express Co. and the class A common stock of MasterCard Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11% if each stock closes at or above its coupon barrier level, 70% of the initial level, on the observation date for that month.
The notes will be called if each stock closes at or above its initial level on any monthly call date beginning in September.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by that stock’s initial price.
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: | Capital One Financial Corp. (Symbol: COF), American Express Co. (Symbol: AXP), MasterCard Inc. (Symbol: MA)
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| Amount: | $540,000
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| Maturity: | June 22, 2017
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| Contingent payment: | 11% per year, payable monthly if each 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: | If final share price of each stock is greater than or equal to knock-in level, par; otherwise, number of shares of the lowest performing stock equal to $1,000 divided by the initial price of that stock
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| Call: | Automatically at par plus contingent payment if closing share price of each stock is greater than or equal to initial share price on any monthly observation date on or after Sept. 19
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| Initial share prices: | $64.25 for Capital One, $61.93 for American Express, $94.08 for MasterCard
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| Barrier/knock-in levels: | $44.975 for Capital One, $43.351 for American Express, $65.856 for MasterCard; 70% of initial share prices
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| Pricing date: | June 17
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| Settlement date: | June 22
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.625%
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| Cusip: | 22549JAM2
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