Published on 10/8/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $450,000 contingent coupon autocallables linked to stocks
By Angela McDaniels
Tacoma, Wash., Oct. 8 – Credit Suisse AG, London Branch priced $450,000 of autocallable contingent coupon yield notes due Oct. 8, 2019 linked to the common stocks of Apple Inc., Bristol-Myers Squibb Co., General Electric Co. and Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 12% per year if each stock closes at or above its barrier level, 60% of its initial share price, on the determination date for that quarter.
The notes will be automatically called at par if each stock closes at or above its trigger level, 95% of its initial share price, on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable contingent coupon yield notes
|
| Underlying stocks: | Apple Inc. (Symbol: AAPL), Bristol-Myers Squibb Co. (Symbol: BMY), General Electric Co. (Symbol: GE) and Walgreens Boots Alliance, Inc. (Symbol: WBA)
|
| Amount: | $450,000
|
| Maturity: | Oct. 8, 2019
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 12% per year unless any stock closes below barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier level, in which case full exposure to decline of least-performing stock
|
| Call: | Automatically at par if each stock closes at or above trigger level on any quarterly observation date
|
| Initial share prices: | $109.58 for Apple, $25.19 for GE, $60.05 for Bristol-Myers Squibb and $84.63 for Walgreens Boots
|
| Barrier levels: | $65.75 for Apple, $15.11 for GE, $36.03 for Bristol-Myers Squibb and $50.78 for Walgreens Boots; 60% of initial share prices
|
| Trigger levels: | $104.10 for Apple, $23.93 for GE, $57.05 for Bristol-Myers Squibb and $80.40 for Walgreens Boots; 95% of initial share prices
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 8
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.25%
|
| Cusip: | 22546VN44
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