Published on 12/28/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.31 million contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – Credit Suisse AG, London Branch priced $1.31 million of contingent coupon autocallable yield notes due Dec. 27, 2021 linked to the least performing of the shares of Apple Inc., Valero Energy Corp. and Goldman Sachs Group 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 9.8% if each stock closes at or above its coupon barrier, 50% of its initial level, on the observation date.
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 50% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Apple Inc., Valero Energy Corp. and Goldman Sachs Group Inc.
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| Amount: | $1,311,000
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| Maturity: | Dec. 27, 2021
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| Coupon: | 9.8% per year, payable monthly if each stock closes at or above its barrier level on observation date
|
| 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: | $150.73 for Apple, $160.05 for Goldman, $71.64 for Valero
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| Coupon barriers: | $75.365 for Apple, $80.025 for Goldman, $35.82 for Valero; 50% of initial levels
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| Knock-in levels: | $75.365 for Apple, $80.025 for Goldman, $35.82 for Valero; 50% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | Incapital LLC
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| Fees: | 3.5%
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| Cusip: | 22551LPG9
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