Published on 10/17/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $647,000 contingent coupon autocallable yield notes on Amazon
By Sarah Lizee
Olympia, Wash., Oct. 17 – Credit Suisse AG, London Branch priced $647,000 of contingent coupon autocallable yield notes due Jan. 21, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month the notes will pay a contingent coupon at an annual rate of 9.1% if the stock closes at or above the coupon barrier, 72% of the initial level, for that month.
The notes will be called at par plus the contingent coupon if stock closes at or above its initial price on a quarterly trigger observation date.
The payout at maturity will be par unless the shares close below the 72% knock-in level, in which case investors will lose 1% for each 1% decline in the stock from its initial level.
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: | $647,000
|
| Maturity: | Jan. 21, 2020
|
| Contingent payment: | 9.1% per year, payable monthly if stock closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline
|
| Call: | Automatically at par plus contingent payment if stock closes at or above initial price on a quarterly observation date after six months
|
| Initial price: | $1,760.95
|
| Coupon barrier/knock-in: | $1,267.884, 72% of initial price
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 18
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25%
|
| Cusip: | 22551LEK2
|
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