Published on 9/4/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse $1.56 million contingent coupon autocallable yield notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – Credit Suisse AG, London Branch priced $1.56 million of contingent coupon autocallable yield notes due Sept. 6, 2022 linked to the lowest performing of the stocks of Apple Inc., salesforce.com, inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 11.5% if each stock closes at or above its barrier level, 65% of its initial level, on a related observation date.
The notes will be called at par if each stock closes above its initial level on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its 65% knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses.
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: | Apple Inc., salesforce.com, inc. and Amazon.com, Inc.
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| Amount: | $1,557,000
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| Maturity: | Sept. 6, 2022
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| Coupon: | 11.5% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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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 the payout will be par plus the return of the least performing stock with full exposure to losses
|
| Call: | At par if each stock closes above initial level on any quarterly observation date
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| Initial levels: | $209.01 for Apple, $155.93 for salesforce.com, $1,786.40 for Amazon.com
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| Coupon barrier levels: | $135.8565 for Apple, $101.3545 for salesforce.com, $1,161.16 for Amazon.com, 65% of initial levels
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| Knock-in levels: | $135.8565 for Apple, $101.3545 for salesforce.com, $1,161.16 for Amazon.com, 65% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.125%
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| Cusip: | 22552FSZ6
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