Published on 4/29/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $700,000 9% autocallable yield notes tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, April 29 – Credit Suisse AG, London Branch priced $700,000 of 9% autocallable yield notes due April 29, 2019 linked to the class P common stock of Kinder Morgan, Inc., the common stock of Exxon Mobil Corp. and the common stock of ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if each stock closes at or above its initial share price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its knock-in level, 50% of its initial share price, in which case investors will be fully exposed to the decline of the least-performing stock.
Incapital LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Autocallable yield notes
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Underlying stocks: | Kinder Morgan, Inc. (NYSE: KMI), Exxon Mobil Corp. (NYSE: XOM) and ConocoPhillips (NYSE: COP)
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Amount: | $700,000
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Maturity: | April 29, 2019
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Coupon: | 9%
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below knock-in level, in which case full exposure to decline of worst-performing stock
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Call: | At par if each stock closes at or above its initial share price on any quarterly observation date
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Initial share prices: | $17.90 for Kinder Morgan, $87.63 for Exxon and $48.08 for ConocoPhillips
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Knock-in prices: | $8.95 for Kinder Morgan, $43.815 for Exxon and $$24.04 for ConocoPhillips; 50% of initial share prices
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Pricing date: | April 26
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Settlement date: | April 29
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Agent: | Incapital LLC
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Fees | 3.43%
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Cusip: | 22548Q2U8
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