Published on 6/19/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $712,000 autocallable notes on RH, Williams-Sonoma
By Marisa Wong
Morgantown, W.Va., June 19 – Credit Suisse AG, London Branch priced $712,000 of 12% autocallable yield notes due June 13, 2018 linked to the lowest performing of the common stock of RH and the common stock of Williams-Sonoma, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if each stock closes above its initial level on any monthly observation date beginning Sept. 8.
The payout at maturity will be par unless either stock finishes below its 60% knock-in level, in which case investors will receive a number of shares of the worse performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | RH (Symbol: RH), Williams-Sonoma, Inc. (Symbol: WSM)
|
| Amount: | $712,000
|
| Maturity: | June 13, 2018
|
| Coupon: | 12%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below its knock-in price, in which case a number of shares of the worse performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, the cash equivalent
|
| Call: | Automatically at par plus the coupon if each stock closes above its initial level on any monthly observation date beginning Sept. 8
|
| Initial prices: | $49.49 for RH, $46.61 for Williams-Sonoma
|
| Knock-in prices: | $29.69 for RH, $27.97 for Williams-Sonoma, 60% of initial prices
|
| Pricing date: | June 8
|
| Settlement date: | June 13
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.875%
|
| Cusip: | 22549JHE3
|
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