Published on 6/11/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $625,000 autocallable contingent coupon notes on four stocks
By Marisa Wong
Madison, Wis., June 11 – Credit Suisse AG, London Branch priced $625,000 of autocallable contingent coupon yield notes due June 17, 2019 linked to the common stocks of Oracle Corp., Google Inc., Altria Group, Inc. and Kroger Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each stock closes at or above its coupon barrier level, 70% of its initial share price, on the determination date for that quarter.
The notes will be automatically called at par if each stock closes at or above its trigger level, 95% of its initial share price, on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its knock-in level, 70% of its initial share price, in which case investors will be fully exposed to the decline of the worst-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable contingent coupon yield notes
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Underlying stocks: | Oracle Corp. (NYSE: ORCL), Google Inc. (Nasdaq: GOOG), Altria Group, Inc. (NYSE: MO) and Kroger Co. (NYSE: KR)
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Amount: | $625,000
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Maturity: | June 17, 2019
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Coupon: | 10%, payable quarterly if each stock closes at or above its coupon barrier level on the determination date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be fully exposed to the decline of the worst-performing stock
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Call: | At par if each stock closes at or above its trigger level on any quarterly observation date
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Initial share prices: | $43.07 for Oracle, $542.16 for Google, $48.56 for Altria, $70.70 for Kroger
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Barrier/knock-in prices: | $30.15 for Oracle, $379.51 for Google, $33.99 for Altria, $49.49 for Kroger; 70% of initial prices
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Trigger prices: | $40.92 for Oracle, $515.05 for Google, $46.13 for Altria, $67.17 for Kroger; 95% of initial prices
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Pricing date: | June 9
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Settlement date: | June 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22546VF35
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