Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.8 million contingent coupon yield autocalls on four tech stocks
Chicago, March 30 – Credit Suisse AG, London Branch priced $1.8 million of contingent coupon autocallable yield notes due March 20, 2025 linked to the lowest performing of the stocks of Apple Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 15.5% if each stock closes at or above its barrier level, 60% of its initial level, on a related observation date.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses.
Incapital LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying stocks: | Apple Inc., Amazon.com, Inc., Netflix, Inc. and Alphabet Inc.
|
Amount: | $1,801,000
|
Maturity: | March 20, 2025
|
Coupon: | 15.5% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
|
Price: | Par
|
Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses
|
Call: | At par plus coupon if each stock closes at or above its initial level on any quarterly call date
|
Initial levels: | $252.86 for Apple, $1,807.84 for Amazon.com, $1,119.80 for Alphabet, $319.75 for Netflix
|
Coupon barriers: | $151.716 for Apple, $1,084.704 for Amazon.com, $671.88 for Alphabet, $191.85 for Netflix, 60% of initial levels
|
Knock-in levels: | $151.716 for Apple, $1,084.704 for Amazon.com, $671.88 for Alphabet, $191.85 for Netflix, 60% of initial levels
|
Pricing date: | March 17
|
Settlement date: | March 20
|
Agent: | Incapital LLC
|
Fees: | 3.75%
|
Cusip: | 22551NU79
|
|
© 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.