Published on 9/26/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.53 million contingent coupon autocallable yield notes on Southwest, MetLife
By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – Credit Suisse AG, London Branch priced $1.53 million of contingent coupon autocallable yield notes due March 26, 2018 linked to Southwest Airlines Co. and MetLife, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 11.63% if each stock closes above its barrier level, 80% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes above its initial level on Dec. 20, 2017.
The payout at maturity will be par plus unless either stock finishes below its 80% barrier level, in which case investors will be fully exposed to the loss of the least-performing stock.
Credit Suisse Securities (USA) LLC is the placement agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying stocks: | Southwest Airlines Co. and MetLife, Inc.
|
Amount: | $1,525,000
|
Maturity: | March 26, 2018
|
Coupon: | 11.63% per year, payable quarterly if each stock closes at or above its barrier level on observation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par plus unless either stock finishes below its barrier level, in which case full exposure to loss of least-performing stock
|
Call option: | Automatically if each stock closes at or above its initial level on Dec. 20, 2017
|
Initial prices: | $54.63 for Southwest, $50.45 for MetLife
|
Barrier prices: | $43.794 for Southwest, $40.36 for MetLife, 80% of initial levels
|
Pricing date: | Sept. 21
|
Settlement date: | Sept. 26
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 1.85%
|
Cusip: | 22549JKZ2
|
|
© 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.