Published on 7/26/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $200,000 contingent coupon autocallable yield notes on stocks
By Sarah Lizee
Olympia, Wash., July 26 – Credit Suisse AG, London Branch priced $200,000 of contingent coupon autocallable yield notes due Jan. 31, 2022 to the common stocks of Apple Inc., Goldman Sachs Group, Inc. and Coca-Cola Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 11.85% if each stock closes at or above its coupon barrier, 70% 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.
The payout at maturity will be par unless any stock finishes below its 70% 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
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | Apple Inc., Goldman Sachs Group, Inc. and Coca-Cola Co.
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Amount: | $200,000
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Maturity: | Jan. 31, 2022
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Coupon: | 11.85% per year, payable quarterly if each stock closes at or above its barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
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Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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Initial prices: | $208.67 for Apple, $222.03 for Goldman, $53.78 for Coca-Cola
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Coupon barriers: | $146.069 for Apple, $155.421 for Goldman, $37.646 for Coca-Cola; 70% of initial prices
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Knock-in levels: | $146.069 for Apple, $155.421 for Goldman, $37.646 for Coca-Cola; 70% of initial prices
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Pricing date: | July 24
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Settlement date: | July 29
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 4%
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Cusip: | 22552FMP4
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