Published on 5/20/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.7 million contingent coupon autocallables on three stocks
By Marisa Wong
Morgantown, W.Va., May 20 – Credit Suisse AG, London Branch priced $3.7 million of contingent coupon autocallable yield notes due May 2, 2022 linked to the least performing of the common stocks of Walt Disney Co., FedEx Corp. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at a rate of 8.65% per year if each stock closes at or above its 60% coupon barrier level on the observation date for that month.
After six months, the notes will be automatically called at par if each stock closes at or above its initial share price on any monthly observation date.
The payout at maturity will be par unless any stock finishes below its 60% 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
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Walt Disney Co. (Symbol: DIS), FedEx Corp. (Symbol: FDX) and Home Depot, Inc. (Symbol: HD)
|
| Amount: | $3.7 million
|
| Maturity: | May 2, 2022
|
| Coupon: | 8.65% per year, payable each month that each stock closes at or above its 60% coupon barrier level on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case par plus return of least-performing stock with full exposure to losses
|
| Call: | After six months, automatically at par if each stock closes at or above its initial price on any monthly observation date
|
| Initial prices: | $139.92 for Disney, $184.04 for FedEx, $203.61 for Home Depot
|
| Coupon barriers: | $83.952 for Disney, $110.424 for FedEx, $122.166 for Home Depot; 60% of initial prices
|
| Knock-in levels: | $83.952 for Disney, $110.424 for FedEx, $122.166 for Home Depot; 60% of initial prices
|
| Pricing date: | April 26
|
| Settlement date: | May 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.38%
|
| Cusip: | 22552FAS1
|
|
|
© 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.
