Published on 2/7/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.61 million 11.5% contingent coupon autocalls tied to stocks
By Susanna Moon
Chicago, Feb. 7 – Credit Suisse AG, London Branch priced $2.61 million of contingent coupon autocallable yield notes due Jan. 31, 2025 linked to the least performing of the class A common stock of Facebook, Inc., the common stocks of Netflix, Inc. and Amazon.com, Inc. and the class C common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if each stock closes at or above its 55% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any stock finishes below its 55% knock-in level, in which case investors will be fully exposed to any losses of the worst performing stock.
Incapital 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 assets: | Facebook, Inc. (Symbol: FB), Netflix, Inc. (Symbol: NFLX), Amazon.com, Inc. (Symbol: AMZN) and Alphabet Inc. (Symbol: GOOG)
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| Amount: | $2,614,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 11.5% annualized, payable quarterly if each stock closes at or above its 55% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the worst performing stock
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| Call: | At par if each stock closes at or above initial level on any quarterly trigger observation date beginning Jan. 29, 2019
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| Initial levels: | $185.98 for Facebook, $284.59 for Netflix, $1,417.68 for Amazon and $1,175.58 for Alphabet
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| Trigger levels: | $102.289 for Facebook, $156.5245 for Netflix, $779.724 for Amazon and $646.569 for Alphabet, 55% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agent: | Incapital LLC
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| Fees: | 3.35%
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| Cusip: | 22550WC21
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