Published on 5/6/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $370,000 contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, May 6 – Credit Suisse AG, London Branch priced $370,000 of contingent coupon autocallable yield notes due Oct. 29, 2021 to the common stocks of Amazon.com, Inc., Facebook, Inc. and Netflix, Inc. and the class C capital stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 12.75% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
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: | Amazon.com, Inc., Facebook, Inc., Netflix, Inc. and Alphabet Inc.
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| Amount: | $370,000
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| Maturity: | Oct. 29, 2021
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| Coupon: | 12.75% per year, payable quarterly if each stock closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
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| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $1,902.25 for Amazon, $1,263.45 for Alphabet, $205.28 for Facebook, $368.33 for Netflix
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| Coupon barriers: | $1,141.35 for Amazon, $758.070 for Alphabet, $123.168 for Facebook, $220.998 for Netflix; 60% of initial prices
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| Knock-in levels: | $1,141.35 for Amazon, $758.070 for Alphabet, $123.168 for Facebook, $220.998 for Netflix; 60% of initial prices
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Credit Suisse Securities, (USA) LLC
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| Fees: | 4%
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| Cusip: | 22552FB92
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