Published on 5/12/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $240,000 contingent coupon autocallables tied to Facebook
New York, May 12 – Credit Suisse AG, London Branch priced $240,000 of contingent coupon autocallable reverse convertible securities due Aug. 13, 2018 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 6.5% if the stock closes at or above its 70% coupon barrier level on a monthly observation date.
The notes will be called at par if Facebook shares close at or above the initial share price on Nov. 8, 2017, Feb. 7, 2018 or May 9, 2018.
The payout at maturity will be par unless the shares finish below the 70% knock-in level, in which case investors will receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC and Incapital LLC are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible securities
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| Underlying stock: | Facebook, Inc. class A
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| Amount: | $240,000
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| Maturity: | Aug. 13, 2018
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| Coupon: | 6.5%, payable monthly if stock closes at or above coupon barrier price on a monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless Facebook stock finishes below knock-in price, in which case a number of shares equal to $1,000 divided by the initial share price
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| Call: | At par if Facebook shares close at or above initial share price on Nov. 8, 2017, Feb. 7, 2018 or May 9, 2018
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| Initial level: | $150.48
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| Coupon barrier/knock-in price: | $105.336, 70% of initial share price
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| Pricing date: | May 9
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| Settlement date: | May 12
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| Agents: | Credit Suisse Securities (USA) LLC and Incapital LLC
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| Fees: | 0.75%
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| Cusip: | 22549JGH7
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