Published on 7/1/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 contingent coupon autocallables linked to Facebook
By Susanna Moon
Chicago, July 1 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due July 3, 2017 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.75% if the stock closes at or above the 85% coupon barrier level on the observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any observation date.
The payout at maturity will be par unless the stock closes below its knock-in level, 85% of its initial level, in which case the payout will be a number of shares 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 stock: | Facebook, Inc. (Symbol: FB)
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| Amount: | $500,000
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| Maturity: | July 3, 2017
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| Contingent payment: | 9.75% annualized, payable monthly if stock closes at or above 80% coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above knock-in level, par; otherwise, number of shares equal to $1,000 divided by the initial price
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| Call: | At par plus contingent payment if stock closes at or above initial share price on any observation date
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| Initial share price: | $112.70
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| Knock-in level: | $95.795, 85% of initial share price
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| Pricing date: | June 28
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| Settlement date: | July 1
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JAT7
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