Published on 3/13/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $705,000 15.4% autocallable yield notes on Tesla, Fiat Chrysler
By Wendy Van Sickle
Columbus, Ohio, March 13 – Credit Suisse AG, London Branch priced $705,000 of 15.4% autocallable yield notes due March 8, 2018 linked to the lowest performing of the common stocks of Tesla Motors, Inc. and Fiat Chrysler Automobiles NV, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the contingent coupon if each stock closes above its initial level on any monthly observation date beginning June 5.
The payout at maturity will be par unless either of the stocks finishes below its 70% knock-in level, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Tesla Motors, Inc. and Fiat Chrysler Automobiles NV
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| Amount: | $705,000
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| Maturity: | March 8, 2018
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| Coupon: | 15.4% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus unless either stock finishes below its knock-in level, in which case a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price
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| Call: | Automatically if each stock closes at or above its initial level on any monthly observation date beginning June 5
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| Initial prices: | $251.57 for Tesla, $11.72 for Fiat Chrysler
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| Knock-in prices: | $176.099 for Tesla, $7.854 for Fiat Chrysler; 70% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JFB1
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