Published on 4/26/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $800,000 contingent coupon autocallable yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, April 26 – Credit Suisse AG, London Branch priced $800,000 of contingent coupon autocallable yield notes due April 28, 2017 linked to the common stocks of Facebook, Inc., Apple Inc., Amazon.com, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 14.65% if each stock closes above its barrier level, 70% of its initial level, on the observation date for that month.
The notes will be automatically called at plus the contingent coupon if each stock closes above its initial level on any observation date beginning July 22, 2016.
The payout at maturity will be par plus unless any of the stocks closes below its barrier level, in which case investors will receive be 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: | Facebook, Inc., Apple Inc., Amazon.com, Inc. and Alphabet Inc.
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| Amount: | $800,000
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| Maturity: | April 28, 2017
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| Coupon: | Each month, notes pay contingent coupon at rate of 14.65% per year unless any stock closes below barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier level, in which case full exposure to decline of worst-performing stock
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| Call: | Beginning July 22, automatically at par if each stock closes at or above initial share price on any monthly observation date
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| Initial share prices: | $113.44 for Facebook, $105.97 for Apple, $780.00 for Alphabet and $631.00 for Amazon
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| Barrier level: | $79.408 for Facebook, $74.179 for Apple, $546.00 for Alphabet and $441.70 for Amazon; 70% of initial share prices
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| Strike date: | April 21
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| Pricing date: | April 22
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| Settlement date: | April 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.79%
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| Cusip: | 22548Q4M4
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