Published on 4/17/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 autocallable yield notes tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, April 17 – Credit Suisse AG, London Branch priced $500,000 of 12% of autocallable yield notes due April 5, 2018 linked to the lowest performing of the American Depository shares of GW Pharmaceuticals plc and the common stocks of AbbVie Inc. and Palo Alto Networks, 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 June 29.
The payout at maturity will be par unless any of the stocks finishes below its 65% knock-in level, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price.
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: | GW Pharmaceuticals plc, AbbVie Inc. and Palo Alto Networks, Inc.
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| Amount: | $500,000
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| Maturity: | April 5, 2018
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| Coupon: | 12% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus unless any stock closes below its knock-in level, in which case a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price
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| Call option: | Automatically at par if each stock closes at or above its initial level on any monthly observation date beginning June 29
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| Initial prices: | $120.94 for GW, $65.16 for AbbVie, $112.68 for Palo Alto
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| Knock-in prices: | $78.611 for GW, $42.354 for AbbVie, $73.242 for Palo Alto; 65% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JFQ8
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