Published on 7/5/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.25 million contingent coupon autocallables on three stocks
By Devika Patel
Knoxville, Tenn., July 5 – Credit Suisse AG, London Branch, priced $2.25 million of contingent coupon autocallable yield notes due June 29, 2021 linked to the common stocks of Apple Inc., salesforce.com, inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16.43% if each stock closes at or above its coupon barrier level, 70% 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 observation date beginning Dec. 21, 2018.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worst-performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlyings: | Common stock of Apple Inc., salesforce.com, inc. and Nvidia Corp.
|
| Amount: | $2.25 million
|
| Maturity: | June 29, 2021
|
| Coupon: | 16.43% per year payable quarterly if all stocks close at or above coupon barrier levels on observation date that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case 1% loss for each 1% decline of the worst-performing stock from its initial level
|
| Call option: | At par if all stocks close at or above their initial levels on any quarterly observation date beginning Dec. 21, 2018
|
| Initial level: | $184.92 for Apple, $135.01 for salesforce, $250.95for Nvidia
|
| Coupon barrier/knock-in levels: | $129.444 for Apple, $94.507 for salesforce, $175.665 for Nvidia, 70% of initial levels
|
| Pricing date: | June 22
|
| Settlement date: | June 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22550WYN1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
