Published on 2/16/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.2 million contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Credit Suisse AG, London Branch priced $1.2 million of contingent coupon autocallable yield notes due Feb. 20, 2018 linked to shares of Facebook, Inc., Alphabet Inc., Amazon.com, Inc. and Seagate Technology plc, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 15.2% 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 May 12.
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., Alphabet Inc., Amazon.com, Inc. and Seagate Technology plc
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| Amount: | $1.2 million
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| Maturity: | Feb. 20, 2018
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| Coupon: | 15.2% per year, payable monthly if each stocks set closes at or above its barrier level on 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 observation date beginning May 12
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| Initial prices: | $133.85 for Facebook, $840.03 for Alphabet, $836.39 for Amazon, $47.85 for Seagate
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| Barrier/knock-in prices: | $93.695 for Facebook, $588.021 for Alphabet, $585.473 for Amazon, $33.485 for Seagate; 70% of initial levels
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 17
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JEP1
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