Published on 1/12/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $11.75 million autocallable securities three stocks
By Tali Rackner
Minneapolis, Jan. 12 – Credit Suisse AG, London Branch priced $11.75 million of 0% autocallable securities due Jan. 13, 2020 linked to the least performing of the common stocks of JPMorgan Chase & Co. and Amazon.com, Inc. and the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 16.25% if each underlying stock closes at or above its initial level on either trigger observation date.
At maturity, if each stock finishes above its initial level, investors will receive par plus 32.5%.
If any stock falls but not below its 70% knock-in level, the payout at maturity will be par; otherwise, investors will lose 1% for each 1% decline of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying stocks: | JPMorgan Chase & Co. (Symbol: JPM), Amazon.com, Inc. (Symbol: AMZN), Facebook, Inc. (Symbol: FB)
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| Amount: | $11.75 million
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| Maturity: | Jan. 13, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 32.5% if each stock finishes above initial level; par if the least-performing stock falls but not below the knock-in level; otherwise, investors will be fully exposed to any decline of the least-performing stock
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| Call: | Automatically at par plus annualized redemption premium of 16.25% if each stock closes at or above its initial level on either trigger observation date
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| Initial share prices: | $109.05 for JPMorgan, $1,252.70 for Amazon and $187.87 for Facebook
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| Knock-in levels: | $76.335 for JPMorgan, $876.89 for Amazon and $131.509 for Facebook, 70% of initial levels
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 22550W5V5
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