Published on 1/11/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on stocks
By Tali Rackner
Norfolk, Va., Jan. 11 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Jan. 11, 2018 linked to the class A common stock of Facebook, Inc., the common stocks of Apple Inc. and Amazon.com, Inc. and the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 15.15% 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 April 6, 2017.
The payout at maturity will be par plus unless any stock closes below its barrier level, in which case investors will receive 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. (Symbol: FB) class A common stock, Apple Inc. (Symbol: AAPL) common stock, Amazon.com, Inc. (Symbol: AMZN) common stock and Alibaba Group Holding Ltd. (Symbol: BABA) American Depositary Shares
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| Amount: | $500,000
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| Maturity: | Jan. 11, 2018
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| Coupon: | 15.15% per year, payable quarterly if each stocks set closes at or above its barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus unless any stock closes below its barrier level, in which case a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price
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| Call option: | Automatically if each stock closes at or above its initial level on any quarterly observation date beginning April 6, 2017
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| Initial prices: | $123.41 for Facebook, $117.91 for Apple, $795.99 for Amazon, $93.89 for Alibaba
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| Barrier/knock-in prices: | $86.387 for Facebook, $82.537 for Apple, $557.193 for Amazon, $65.723 for Alibaba; 70% of initial levels
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| Pricing date: | Jan. 6
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| Settlement date: | Jan. 11
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JDP2
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