Published on 3/22/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.22 million autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, March 23 – Credit Suisse AG, London Branch priced $1.22 million of autocallable yield notes due March 10, 2022 linked to the common stocks of Walt Disney Co., Facebook Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at a rate of 6.3% year.
The notes will be automatically called at par plus the coupon if each stock closes at or above its trigger level on any monthly trigger observation date beginning June 3. The trigger level will be 90% of each stock’s initial level.
The payout at maturity will be par unless any stock finishes below its 50% 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
|
| Issue: | Autocallable yield notes
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| Underlying stocks: | Walt Disney Co., Facebook Inc. and FedEx Corp.
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| Amount: | $1,219,000
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| Maturity: | March 10, 2022
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| Coupon: | 6.3 per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case full exposure to the losses of the least performing stock
|
| Call: | Notes will be automatically called at par plus the coupon if each stock closes at or above trigger level on any monthly trigger observation date beginning June 3
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| Initial prices: | $119.98 for Disney, $196.44 for Facebook, $139.75 for FedEx
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| Trigger levels: | $107.982 for Disney, $176.796 for Facebook, $125.775 for FedEx; 90% of initial prices
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| Knock-in levels: | $59.99 for Disney, $98.22 for Facebook, $69.875 for FedEx; 50% of initial prices
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| Pricing date: | March 3
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| Settlement date: | March 10
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22551NUH7
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