Published on 6/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.35 million contingent coupon autocallable yield notes on Apple, Boeing, JPMorgan
By Wendy Van Sickle
Columbus, Ohio, June 19 – Credit Suisse AG, London Branch priced $1.35 million of contingent coupon autocallable yield notes due Dec. 21, 2020 linked to the least performing of the common stocks of Apple Inc., Boeing Co. and JPMorgan Chase & 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 12.5% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
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., Boeing Co., JPMorgan Chase & Co.
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| Amount: | $1,345,000
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| Maturity: | Dec. 21, 2020
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| Coupon: | 12.5% 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
|
| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $190.80 for Apple, $362.42 for Boeing, $108.03 for JPMorgan
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| Coupon barriers: | $133.56 for Apple, $253.694 for Boeing, $75.621 for JPMorgan; 70% of initial levels
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| Knock-in levels: | $133.56 for Apple, $253.694 for Boeing, $75.621 for JPMorgan; 70% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 4%
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| Cusip: | 22549JTW0
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