Published on 7/11/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $900,000 11.8% autocallable yield notes on two stocks
By Wendy Van Sickle
Columbus, Ohio, July 11 – Credit Suisse AG, London Branch priced $900,000 of 11.8% autocallable yield notes due Dec. 29, 2017 linked to the common stocks on Alexion Pharmaceuticals, Inc. and Applied Materials, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any monthly review date beginning Sept. 27, 2017.
The payout at maturity will be par unless any stock finishes below its 75% trigger level, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the company’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Alexion Pharmaceuticals, Inc. and Applied Materials, Inc.
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| Amount: | $900,000
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| Maturity: | Dec. 29, 2017
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| Coupon: | 11.8%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its 75% trigger level, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
|
| Call: | Automatically at par if stocks close at or above their initial levels on any monthly review date beginning Sept. 27, 2017
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| Initial share prices: | $122.11 for Alexion and $41.89 for Applied
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| Trigger share prices: | $91.5825 for Alexion and $31.4175 for Applied, 75% of initial levels
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22549JHS2
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