Published on 4/26/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.06 million contingent coupon autocallable yield notes on index, stock
By Sarah Lizee
Olympia, Wash., April 26 – Credit Suisse AG, London Branch priced $2.06 million of contingent coupon autocallable yield notes due April 29, 2022 linked to the lesser performing of the S&P 500 index and the common stock of CVS Health Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual coupon at an annualized rate of 6.5% if each asset closes at or above its coupon barrier level, 60% of its initial level, on a related observation date.
The notes will be called at par if each asset closes above its initial level on any semiannual autocall observation date, starting April 27, 2020.
The payout at maturity will be par unless either asset finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses of the lesser-performing asset.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying assets: | S&P 500 index and CVS Health Corp.
|
| Amount: | $2,064,000
|
| Maturity: | April 29, 2022
|
| Coupon: | 6.5% per year, payable semiannually if each index closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset finishes below knock-in level, in which case full exposure to any losses of the lesser-performing asset
|
| Call: | At par if each asset closes above initial level on any semiannual autocall observation date, starting April 27, 2020
|
| Initial levels: | 2,926.17 for S&P and $53.23 for CVS
|
| Barrier levels: | 1,755.702 for S&P and $31.938 for CVS; 60% of initial levels
|
| Knock-in levels: | 1,463.085 for S&P and $26.615 for CVS; 50% of initial levels
|
| Pricing date: | April 25
|
| Settlement date: | April 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.25%
|
| Cusip: | 22552FC91
|
© 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.
