Published on 5/10/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.5 million contingent coupon buffered autocallables on four stocks
By Wendy Van Sickle
Columbus, Ohio, May 10 – Credit Suisse AG, London Branch priced $1.5 million of contingent coupon buffered autocallable yield notes due May 6, 2022 linked to the least performing of the common stocks of Amazon.com Inc., Facebook, Inc., Alphabet, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.5% if each stock closes at or above its 60% barrier on the related observation date.
The notes will be called at par if each stock closes at or above its initial level on any observation date after one year.
The payout at maturity will be par unless any stock falls by more than 40%, in which case investors will lose 1.6667% for each 1% decline of the worst performing stock beyond the 40% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon buffered autocallable yield notes
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| Underlying stocks: | Amazon.com Inc., Facebook, Inc., Alphabet, Inc. and Netflix, Inc.
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| Amount: | $1.5 million
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| Maturity: | May 6, 2022
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| Coupon: | 10.5% annualized, payable quarterly if each index closes at or above its barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless either index falls by more than 40%, in which case 1.6667% loss for each 1% decline of worse performing index beyond 40%
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| Call: | At par if each index closes at or above initial level on any observation date after one year
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| Initial levels: | $1,911.52 for Amazon, $193.03 for Facebook, $1,168.08 for Alphabet and $378.81 for Netflix
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| Barrier levels: | $1,146.912 for Amazon, $115.818 for Facebook, $700.848 for Alphabet and $227.286 for Netflix, 60% of initial levels
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| Agent: | Credit Suisse Securities (USA) LLC
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| Pricing date: | May 1
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| Settlement date: | May 6
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| Fees: | 0.1%
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| Cusip: | 22552FE81
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