Published on 10/15/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.04 million contingent coupon autocallable yield notes on Amazon
By Wendy Van Sickle
Columbus, Ohio, Oct. 15 – Credit Suisse AG, London Branch priced $1.04 million of contingent coupon autocallable yield notes due Jan. 11, 2021 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Contingent coupons are payable monthly at an annual rate of 8.75% if the stock closes at or above its 75% coupon barrier level on a relevant observation date.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on any quarterly trigger observation date after six months.
The payout at maturity will be par unless the shares finish below the 75% knock-in level, in which case investors will be fully exposed to the decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
|
Issue: | Contingent coupon autocallable yield notes
|
Underlying stock: | Amazon.com, Inc.
|
Amount: | $1,037,000
|
Maturity: | Jan. 11, 2021
|
Coupon: | 8.75% payable monthly if the stock closes at or above its coupon barrier level on a related observation date
|
Price: | Par
|
Payout at maturity: | Par unless stock finishes below knock-in price, in which case full exposure to losses
|
Call: | At par plus coupon if shares close at or above initial share price on any quarterly trigger observation date after six months
|
Initial level: | $1,739.65
|
Coupon barrier level: | $1,304.7375, 75% of initial level
|
Knock-in price: | $1,304.7375, 75% of initial level
|
Pricing date: | Oct. 4
|
Settlement date: | Oct. 9
|
Agent: | Credit Suisse Securities (USA) LLC
|
Fees: | 2.25%
|
Cusip: | 22552FYB2
|
|
© 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.