New Issue: Credit Suisse sells $1.14 million contingent coupon autocallable yield notes on four stocks

By William Gullotti

Buffalo, N.Y., Nov. 5 – Credit Suisse AG, London Branch priced $1.14 million of contingent coupon autocallable yield notes with upper threshold feature due Nov. 7, 2024 linked to the least performing of the stocks of Lucid Group, Inc., Chewy, Inc., Square, Inc. and PetMed Express, 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 21% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.

The notes will be called at par plus the coupon if each stock closes at or above its initial level on any monthly trigger observation date after three months.

The payout at maturity will be par plus the final coupon, if any, unless each stock’s final level is less than its initial level and any stock’s final level is less than its 50% knock-in level, in which case investors will be fully exposed to the decline of the worst performer from its initial level.

The agent is Incapital LLC.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes with upper threshold feature
Underlying stocks:	Lucid Group, Inc., Chewy, Inc., Square, Inc., PetMed Express, Inc.
Amount:	$1,142,000
Maturity:	Nov. 7, 2024
Coupon:	21% per year, payable monthly if each stock closes at or above coupon barrier level on observation date
Price:	Par
Payout at maturity:	Par plus final coupon, if any, unless each stock finishes below initial level and any stock finishes below knock-in level, in which case full exposure decline of worst performer from initial level
Call:	Automatically at par plus coupon if each stock closes at or above initial level on any monthly trigger observation date after three months
Initial levels:	$35.13 for Lucid, $73.39 for Chewy, $249.01 for Square, $29.57 for PetMed
Coupon barriers:	$21.078 for Lucid, $44.034 for Chewy, $149.406 for Square, $17.742 for PetMed; 60% of initial levels
Knock-in levels:	$17.565 for Lucid, $36.695 for Chewy, $124.505 for Square, $14.785 for PetMed; 50% of initial levels
Pricing date:	Nov. 2
Settlement date:	Nov. 5
Agent:	Incapital LLC
Fees:	3.25%
Cusip:	22553P2K4

© 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.