Published on 8/19/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.25 million autocallable securities on three stocks
By Sarah Lizee
Olympia, Wash., Aug. 19 – Credit Suisse AG, London Branch priced $1.25 million of 0% autocallable securities due Aug. 19, 2021 linked to the common stocks of Amazon.com, Inc., Facebook, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 13.3% if each underlying stock closes at or above its initial level on any annual review date.
If the notes are not called and each stock finishes at or above its initial level, the payout at maturity will be par plus the contingent return of 26.6%. If any stock falls but each stock finishes at or above its 60% knock-in level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
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| Underlying stocks: | Amazon.com, Inc., Facebook, Inc. and JPMorgan Chase & Co.
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| Amount: | $1.25 million
|
| Maturity: | Aug. 19, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 26.6% if each stock finishes at or above initial level; par if any stock falls but none finish below knock-in level; otherwise, investors will be fully exposed to any decline of the least performing stock
|
| Call: | Automatically at par plus annualized redemption premium of 13.3% if each stock closes at or above its initial level on any annual review date
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| Initial levels: | $1,762.96 for Amazon, $179.71 for Facebook and $104.80 for JPMorgan
|
| Knock-in levels: | $1,057.776 for Amazon, $107.826 for Facebook and $62.88 for JPMorgan; 60% of initial levels
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552FTN2
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