Published on 5/16/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $725,000 contingent coupon autocallable yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, May 16 – Credit Suisse AG, London Branch priced $725,000 of contingent coupon autocallable yield notes due March 29, 2021 linked to the least performing of the common stocks of Amazon.com, Inc., Facebook, Inc., Alphabet Inc. and Netflix, 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 14.1% if each stock closes at or above its coupon barrier, 55% 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 after six months.
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 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., Facebook, Inc., Alphabet Inc. and Netflix, Inc.
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| Amount: | $725,000
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| Maturity: | March 29, 2021
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| Coupon: | 14.1% per year, payable quarterly if each stock closes at or above its barrier level on 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 after six months
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| Initial prices: | $1,580.95 for Amazon, $176.61 for Facebook, $1,051.00 for Alphabet, $320.09 for Netflix
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| Coupon barriers: | $869.5225 for Amazon, $97.1355 for Facebook, $578.05 for Alphabet, $176.0495 for Netflix; 55% of initial levels
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| Knock-in levels: | $869.5225 for Amazon, $97.1355 for Facebook, $578.05 for Alphabet, $176.0495 for Netflix; 55% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 17
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 22549JSV3
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