Published on 7/22/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.7 million contingent coupon autocallable yield notes on stocks
By Sarah Lizee
Olympia, Wash., July 22 – Credit Suisse AG, London Branch priced $3.7 million of contingent coupon autocallable yield notes due July 22, 2022 to the common stocks of Amazon.com, Inc., Costco Wholesale Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 8.5% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses 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
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| Underlying stocks: | Amazon.com, Inc., Costco Wholesale Corp. and Walmart Inc.
|
| Amount: | $3.7 million
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| Maturity: | July 22, 2022
|
| Coupon: | 8.5% per year, payable monthly if each stock closes at or above its barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
|
| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date after six months
|
| Initial prices: | $1,992.03 for Amazon, $281.56 for Costco, $114.60 for Walmart
|
| Coupon barriers: | $1,195.218 for Amazon, $168.936 for Costco, $68.76 for Walmart; 60% of initial prices
|
| Knock-in levels: | $1,195.218 for Amazon, $168.936 for Costco, $68.76 for Walmart; 60% of initial prices
|
| Pricing date: | July 17
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| Settlement date: | July 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.32%
|
| Cusip: | 22552FN65
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