Published on 6/19/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 17.76% autocallable yield notes on stocks
By Sarah Lizee
Olympia, Wash., June 19 – Credit Suisse AG, London Branch priced $500,000 of 17.76% autocallable yield notes due June 24, 2020 linked to the least performing of the shares of Apple Inc., Amazon.com, Inc., Facebook, Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
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 70% 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
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Facebook, Inc., Alphabet Inc. and Netflix, Inc.
|
| Amount: | $500,000
|
| Maturity: | June 24, 2020
|
| Coupon: | 17.76% per year, payable quarterly
|
| Price: | Par
|
| 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
|
| Initial prices: | $192.74 for Apple, $1,869.67 for Amazon, $181.33 for Facebook, $1,085.35 for Alphabet, $339.73 for Netflix
|
| Knock-in levels: | $134.918 for Apple, $1,308.769 for Amazon, $126.931 for Facebook, $759.745 for Alphabet, $237.811 for Netflix; 70% of initial levels
|
| Pricing date: | June 17
|
| Settlement date: | June 24
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22552FKC5
|
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