Published on 4/20/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $875,000 autocallable notes on four tech stocks
By Marisa Wong
Morgantown, W.Va., April 20 – Credit Suisse AG, London Branch priced $875,000 of 11% autocallable yield notes due April 22, 2019 linked to the class A common stock of Alphabet Inc., the common stock of Amazon.com, Inc., the class A common stock of Facebook, Inc. and the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par if each stock closes at or above its initial share price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its knock-in level, 50% of its initial share price, in which case investors will be fully exposed to the decline of the least-performing stock.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Alphabet Inc. (Symbol: GOOGL), Amazon.com, Inc. (Symbol: AMZN), Facebook, Inc. (Symbol: FB) and Netflix, Inc. (Symbol: NFLX)
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| Amount: | $875,000
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| Maturity: | April 22, 2019
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| Coupon: | 11%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be fully exposed to the decline of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above its initial share price on any quarterly observation date
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| Initial prices: | $110.45 for Facebook, $635.35 for Amazon, $108.40 for Netflix and $787.68 for Alphabet
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| Knock-in prices: | $55.225 for Facebook, $317.675 for Amazon, $54.20 for Netflix, $393.84 for Alphabet; 50% of initial prices
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | Incapital LLC
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| Fees: | 4%
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| Cusip: | 22548Q2N4
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