Published on 12/4/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $907,000 contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Credit Suisse AG, London Branch priced $907,000 of contingent coupon autocallable yield notes due Nov. 30, 2020 linked to the least performing of the common stocks of E*Trade Financial Corp., Harley-Davidson, Inc., H&R Block, Inc. and Marriott International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 12% 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
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | E*Trade Financial Corp., Harley-Davidson, Inc., H&R Block, Inc. and Marriott International, Inc.
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Amount: | $907,000
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Maturity: | Nov. 30, 2020
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Coupon: | 12% per year, payable monthly if each stock closes at or above its barrier level on monthly 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 95% of its initial level on any quarterly trigger observation date
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Initial prices: | $45.13 for E*Trade, $47.52 Harley-Davidson, $25.49 for H&R Block, $126.93 for Marriott
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Barrier/knock-in prices: | $27.078 for E*Trade, $28.512 Harley-Davidson, $15.294 for H&R Block, $76.158for Marriott; 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: | 3.9%
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Cusip: | 22550BM67
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