Published on 6/1/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.15 million contingent coupon autocallable yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, June 1 – Credit Suisse AG, London Branch priced $1.15 million of contingent coupon autocallable yield notes due Nov. 30, 2020 linked to the least performing of the common stocks of Amazon.com, Inc., Facebook, Inc., Alphabet Inc. and Netflix, 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 15% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.
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 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., Facebook, Inc., Alphabet Inc. and Netflix, Inc.
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| Amount: | $1,148,000
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| Maturity: | Nov. 30, 2020
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| Coupon: | 15% per year, payable quarterly 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
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| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $1,603.07 for Amazon, $185.93 for Facebook, $1,079.24 for Alphabet, $349.29 for Netflix
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| Coupon barriers: | $961.842 for Amazon, $111.558 for Facebook, $647.544 for Alphabet, $209.574 for Netflix; 60% of initial levels
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| Knock-in levels: | $961.842 for Amazon, $111.558 for Facebook, $647.544 for Alphabet, $209.574 for Netflix; 60% of initial levels
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| Pricing date: | May 24
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| Settlement date: | May 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.75%
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| Cusip: | 22550WU21
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