Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $275,000 contingent coupon autocallable yield notes on eBay, Southwest, MGM
By Wendy Van Sickle
Columbus, Ohio, May 1 – Credit Suisse AG, London Branch priced $275,000 of contingent coupon autocallable yield notes due April 30, 2019 linked to the least performing of the common stocks of eBay Inc., Southwest Airlines Co. and MGM Resorts International, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 10% 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 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: | eBay Inc., Southwest Airlines Co. and MGM Resorts International
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| Amount: | $275,000
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| Maturity: | April 30, 2019
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| Coupon: | 10% per year, payable monthly if each stock closes at or above its barrier level on 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
|
| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $40.97 for eBay, $53.83 for Southwest, $35.33 for MGM
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| Barrier/knock-in levels: | $24.582 for eBay, $32.298 for Southwest, $21.198 for MGM; 60% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Incapital LLC
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| Fees: | 2.6%
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| Cusip: | 22550WMV6
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