Published on 2/9/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.52 million contingent coupon callable yield notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Credit Suisse AG, London Branch priced $1.52 million of contingent coupon callable yield notes due Feb. 14, 2022 linked to the common stocks of Apple Inc. and Starbucks Corp. and the American Depository shares of Anheuser-Busch InBev SA/NV, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 10% per year unless any stock closes below its 60% coupon barrier on the observation date that month.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
The notes will be callable at par on any quarterly call date beginning in August.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon callable yield notes
|
Underlying stocks: | Apple Inc., Starbucks Corp. and Anheuser-Busch InBev SA/NV
|
Amount: | $1,523,000
|
Maturity: | Feb. 14, 2022
|
Coupon: | 10% per year, payable monthly unless any stock closes below coupon barrier on observation date that month
|
Price: | Par of $1,000
|
Payout at maturity: | Par unless any stock finishes below knock-in level, in which case 1% loss for each 1% decline of worst performing stock
|
Call option: | At par on any quarterly call date starting in August
|
Initial levels: | $156.49 for Apple, $106.97 for Starbucks, $54.69 for Anheuser-Busch
|
Coupon barriers: | $106.97 for Apple, $64.182 for Starbucks, $32.814 for Anheuser-Busch; 60% of initial levels
|
Knock-in levels: | $106.97 for Apple, $64.182 for Starbucks, $32.814 for Anheuser-Busch; 60% of initial levels
|
Pricing date: | Feb. 5
|
Settlement date: | Feb. 12
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.25%
|
Cusip: | 22550WD38
|
|
© 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.