Published on 7/27/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.31 million contingent coupon autocallable yield notes on Facebook, Alphabet
By Wendy Van Sickle
Columbus, Ohio, July 27 – Credit Suisse AG, London Branch priced $3.31 million of contingent coupon autocallable yield notes due July 25, 2019 linked to the least performing of the shares of Facebook, Inc. and Alphabet 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 11.35% 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: | Facebook, Inc. and Alphabet Inc.
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| Amount: | $3.31 million
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| Maturity: | July 25, 2019
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| Coupon: | 11.35% 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
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| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $209.94 for Facebook, $1,197.88 for Alphabet
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| Coupon barriers: | $157.45 for Facebook, $898.41 for Alphabet; 75% of initial levels
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| Knock-in levels: | $157.45 for Facebook, $898.41 for Alphabet; 75% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 22549JVJ6
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