Published on 4/25/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 contingent coupon autocallables linked to dining stocks
By Angela McDaniels
Tacoma, Wash., April 25 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due April 26, 2017 linked to the common stocks of Papa John’s International, Inc., Domino’s Pizza, Inc. and Buffalo Wild Wings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at an annualized rate of 14.3% if each stock closes at or above its barrier level, 70% of its initial share price, on the observation date for that month.
Beginning July 21, the notes will be called at par if each stock closes at or above its initial level on any monthly observation date.
The payout at maturity will be par unless any stock finishes below its barrier level, in which case investors will be exposed to the decline of the worst-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Papa John’s International, Inc., Domino’s Pizza, Inc. and Buffalo Wild Wings, Inc.
|
| Amount: | $500,000
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| Maturity: | April 26, 2017
|
| Coupon: | Each month, notes pay contingent coupon at rate of 14.3% per year unless any stock closes below barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier level, in which case full exposure to decline of worst-performing stock
|
| Call: | Beginning July 21, automatically at par if each stock closes at or above initial share price on any monthly observation date
|
| Initial share prices: | $58.33 for Papa John’s, $140.01 for Domino’s and $143.77 for Buffalo Wild Wings Knock-in levels: | $40.831 for Papa John’s, $98.007 for Domino’s and $100.639 for Buffalo Wild Wings; 70% of initial share prices
|
| Strike date: | April 20
|
| Pricing date: | April 21
|
| Settlement date: | April 26
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.875%
|
| Cusip: | 22548Q3Z6
|
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