Published on 2/13/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $635,000 14.2% autocall reverse converts on stocks
By Susanna Moon
Chicago, Feb. 13 – Credit Suisse AG, London Branch priced $635,000 of 14.2% autocallable reverse convertible securities due Feb. 4, 2019 linked to the American Depositary Shares of GW Pharmaceuticals plc and the common stocks of LendingTree, Inc. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its 60% 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 or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable reverse convertible securities
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| Underlying shares: | GW Pharmaceuticals plc (Symbol: GWPH), LendingTree, Inc. (Symbol: TREE) and Wynn Resorts, Ltd. (Symbol: WYNN)
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| Amount: | $635,000
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| Maturity: | Feb. 4, 2019
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| Coupon: | 14.2%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock falls below 60% knock-in level, in which case number of shares of the worst performing stock equal to $1,000 divided by the initial share price
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| Call: | At par if each stock closes at or above its initial level on any quarterly call observation date
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| Initial level: | $138.13 for GW, $367.85 for LendingTree and $165.59 for Wynn
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| Knock-in level: | $82.878 for GW, $220.71 for LendingTree and $99.354 for Wynn, 60% of initial level
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 2
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JPM6
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