Published on 4/27/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $900,000 contingent coupon autocallable yield notes on Amazon, Facebook
By Wendy Van Sickle
Columbus, Ohio, April 27 – Credit Suisse AG, London Branch priced $900,000 of contingent coupon autocallable yield notes due April 26, 2019 linked to the least performing of the common stock 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 pay a quarterly contingent coupon at an annual rate of 16% if each stock closes at or above its coupon barrier, 75% of its initial level, 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 trigger observation date.
The payout at maturity will be par unless any stock finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
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: | Amazon.com, Inc. and Facebook, Inc.
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| Amount: | $900,000
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| Maturity: | April 26, 2019
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| Coupon: | 16% per year, payable quarterly if each stock closes at or above its barrier level on quarterly observation date
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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 least performing stock
|
| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $1,517.86 for Amazon, $165.84 for Facebook
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| Coupon barriers: | $1,138.395 for Amazon, $124.38 for Facebook; 75% of initial levels
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| Knock-in levels: | $1,138.395 for Amazon, $124.38 for Facebook; 75% of initial levels
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| Pricing date: | April 23
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| Settlement date: | April 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 22549JC32
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