Published on 4/11/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.79 million contingent coupon autocallable yield notes on Vale, Momo
By Wendy Van Sickle
Columbus, Ohio, April 11 – Credit Suisse AG, London Branch priced $1.79 million of contingent coupon autocallable yield notes due Oct. 3, 2017 linked to Vale SA and Momo Inc. American Depository shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 28% if each stock closes above its barrier level, 75% of its initial level, on the observation date for that month.
The notes will be automatically called at par plus the contingent coupon if each stock closes above its initial level on June 28, July 31 or Aug. 30.
The payout at maturity will be par plus unless either stock finishes below its 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 agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying AD shares: | Vale SA and Momo Inc.
|
| Amount: | $1,786,000
|
| Maturity: | Oct. 3, 2017
|
| Coupon: | 28% per year, payable monthly if each stock closes at or above its barrier level for that month
|
| 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: | Automatically at par plus coupon if each stock closes at or above its initial level on June 28, July 31 or Aug. 30
|
| Initial prices: | $9.47 for Vale, $33.80 for Momo
|
| Barrier prices: | $7.1025 for Vale, $25.35 for Momo, 75% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22549JFP0
|
|
|
© 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.
