Published on 11/30/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.62 million contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Credit Suisse AG, London Branch priced $1.62 million of contingent coupon autocallable yield notes due Nov. 30, 2021 linked to the least performing of the shares of Citigroup Inc., Microsoft Corp. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 9.5% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above 95% 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.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Citigroup Inc., Microsoft Corp. and FedEx Corp.
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| Amount: | $1,619,000
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| Maturity: | Nov. 30, 2021
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| Coupon: | 9.5% per year, payable monthly 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
|
| Call: | Automatically if each stock closes at or above 95% of initial level on any quarterly trigger observation date
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| Initial prices: | $63.46 for Citigroup, $225.23 for FedEx, $126.81 for Microsoft
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| Coupon barriers: | $38.076 for Citigroup, $135.138 for FedEx, $64.284 for Microsoft; 60% of initial levels
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| Knock-in levels: | $38.076 for Citigroup, $135.138 for FedEx, $64.284 for Microsoft; 60% of initial levels
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Incapital LLC
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| Fees: | 3.5%
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| Cusip: | 22551LKN9
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