Published on 10/3/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $3.53 million autocallable yield notes on four stocks
By Sarah Lizee
Olympia, Wash., Oct. 3 – Credit Suisse AG, London Branch priced $3.53 million of autocallable yield notes due Sept. 30, 2022 linked to the common stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at a rate of 10.1% per year.
After six months, the notes will be automatically called at par plus the coupon if each stock closes at or above its trigger level on any quarterly trigger observation date. The trigger level will be 100% of each stock’s initial level.
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.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc.
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| Amount: | $3,525,000
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| Maturity: | Sept. 30, 2022
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| Coupon: | 10.1% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case full exposure to the losses of the least performing stock
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| Call: | After six months, notes will be automatically called at par plus the coupon if each stock closes at or above its trigger level on any quarterly trigger observation date; trigger level will be 100% of each stocks initial level
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| Initial prices: | $221.03 for Apple, $1,768.33 for Amazon, $1,246.52 for Alphabet, $264.75 for Netflix
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| Knock-in levels: | $132.618 for Apple, $1,060.998 for Amazon, $747.912 for Alphabet, $158.85 for Netflix; 60% of initial prices
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Incapital LLC
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| Fees: | 3.25%
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| Cusip: | 22552FUX8
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