Published on 2/8/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $8.3 million 7% autocall reverse converts on Amazon
By Susanna Moon
Chicago, Feb. 8 – Credit Suisse AG, London Branch priced $8.34 million of 7% autocallable reverse convertible securities due April 30, 2019 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 75% knock-in level any day during the life of the notes, in which case investors will receive a number of Amazon shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC and Incapital LLC are the agents.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable reverse convertible securities
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Underlying shares: | Amazon.com, Inc. (Symbol: AMZN)
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Amount: | $8,337,000
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Maturity: | April 30, 2019
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Coupon: | 7%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless stock falls and ever closes below 75% knock-in level, in which case 0.7133 Amazon shares
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Call: | At par if each index closes at or above its initial level on any quarterly call observation date
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Initial level: | $1,402.00
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Knock-in level: | $1,051.5375, 75% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | Credit Suisse Securities (USA) LLC and Incapital LLC
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Fees: | 2.25%
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Cusip: | 22549JNQ9
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