Published on 6/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $768,000 contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, June 19 – Credit Suisse AG, London Branch priced $768,000 of contingent coupon autocallable yield notes due June 18, 2021 linked to the class A common stock of Facebook, Inc. and the common stocks of Amazon.com, Inc. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 8% if each stock closes at or above its coupon barrier level, 60% of its initial level, on a related observation date.
The notes will be called automatically 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 60% 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: | Facebook.com, Inc., Amazon.com, Inc. and Morgan Stanley
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| Amount: | $768,000
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| Maturity: | June 18, 2021
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| Coupon: | 8% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to any losses of the least-performing stock
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| Call: | Notes will be called automatically at par if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial levels: | $192.41 for Facebook, $1,704.86 for Amazon, $51.60 for Morgan Stanley
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| Coupon barriers: | $115.446 for Facebook, $1,022.916 for Amazon, $30.96 for Morgan Stanley; 60% of initial levels
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| Knock-in levels: | $115.446 for Facebook, $1,022.916 for Amazon, $30.96 for Morgan Stanley; 60% of initial levels
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| Pricing date: | June 13
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| Settlement date: | June 18
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22550WXS1
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