Published on 5/3/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.08 million autocallable yield notes tied to Momo, Under Armour
By Wendy Van Sickle
Columbus, Ohio, May 3 – Credit Suisse AG, London Branch priced $1.08 million of 22% of autocallable yield notes due Oct. 30, 2017 linked to the lowest performing of the American Depository shares of Momo Inc. and the class A common stock of Under Armour, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if each stock closes above its initial level on any monthly observation date beginning July 26.
The payout at maturity will be par unless either of the stocks finishes below its 75% knock-in level, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by the initial share 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: | Momo Inc. and Under Armour, Inc.
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| Amount: | $1,077,000
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| Maturity: | Oct. 30, 2017
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| Coupon: | 22% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus unless any stock closes below its knock-in level, in which case a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price
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| Call option: | Automatically at par if each stock closes at or above its initial level on any monthly observation date beginning July 26
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| Initial prices: | $38.16 for Momo, $19.53 for Under Armour
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| Knock-in prices: | $28.62 for Momo, $14.65 for Under Armour; 75% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22549JGF1
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