Published on 11/13/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $5 million two-year review notes linked to five stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – Credit Suisse AG, London Branch priced $5 million of 0% review notes due Nov. 8, 2019 linked to the least performing of the common stocks of Amazon.com, Inc., Facebook, Inc., Alibaba Group Holding Ltd., Microsoft Corp. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium at an annual rate of 48.48% if each stock closes at or above its initial level on either of two annual review dates.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its 70% knock-out level, in which case investors will be fully exposed to the loss of the worst performing stock.
J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Review notes
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| Underlying stocks: | Amazon.com, Inc., Facebook, Inc., Alibaba Group Holding Ltd., Microsoft Corp. and Alphabet Inc.
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| Amount: | $5 million
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| Maturity: | Nov. 8, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-out level, in which case full exposure to loss of the worst performing stock
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| Call: | At par plus 48.48% per year if each stock closes at or above initial level on either of two annual review dates
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| Initial levels: | $1,094.22 for Amazon, $178.92 for Facebook, $184.81 for Alibaba, $84.05 for Microsoft and $1,042.97 for Alphabet
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| Knock-out levels: | $765.95 for Amazon, $125.24 for Facebook, $129.37 for Alibaba, $58.83 for Microsoft and $730.08 for Alphabet; 70% of initial level
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 22550BPD9
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