Published on 8/7/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $594,000 contingent coupon autocallable yield notes on four stocks
By Kiku Steinfeld
Chicago, Aug. 7 – Credit Suisse AG, London Branch priced $594,000 of contingent coupon autocallable yield notes due Jan. 31, 2022 linked to the common stocks of Amazon.com, Inc., Alphabet Inc. and Netflix, Inc. and 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 13.85% if each stock closes at or above its coupon barrier, 60% of its initial level, on the quarterly observation date.
The notes will be called at par if each stock closes at or above its trigger level, 100% of 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: | Amazon.com, Inc., Alphabet Inc., Netflix, Inc. and Facebook, Inc.
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| Amount: | $594,000
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| Maturity: | Jan. 31, 2022
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| Coupon: | 13.85% per year, payable quarterly if each stock closes at or above its coupon 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
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| Call: | Automatically if each stock closes at or above its initial level on any quarterly trigger observation date
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| Initial prices: | $2,000.81 for Amazon, $204.66 for Facebook, $1,139.73 for Alphabet, $317.94 for Netflix
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| Coupon barriers: | $1,200.486 for Amazon, $122.796 for Facebook, $683.838 for Alphabet, $190.764 for Netflix; 60% of initial prices
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| Knock-in levels: | $1,200.486 for Amazon, $122.796 for Facebook, $683.838 for Alphabet, $190.764 for Netflix; 60% of initial prices
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| Pricing date: | July 24
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| Settlement date: | July 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 4%
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| Cusip: | 22552FMQ2
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