Published on 12/12/2014 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $575,000 contingent coupon autocallable yield notes on three stocks
By Susanna Moon
Chicago, Dec. 12 – Credit Suisse AG, London Branch priced $575,000 of contingent coupon autocallable yield notes due Dec. 17, 2018 linked to the common stocks of PepsiCo, Inc., Kroger Co. and Kraft Foods Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 7.1% annualized if each stock closes at or above its coupon barrier level, 70% of the initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above the initial level on any interest payment date.
The payout at maturity will be par unless any stock finishes at or below its 65% knock-in level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | PepsiCo, Inc. (Symbol: PEP), Kroger Co. (Symbol: KR) and Kraft Foods Group, Inc. (Symbol: KRFT)
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| Amount: | $575,000
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| Maturity: | Dec. 17, 2018
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| Coupon: | 7.1%, payable quarterly if each stock closes at or above its coupon barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | If any stock falls to or below knock-in level, par plus return; otherwise, par
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| Call: | At par plus coupon if each stock closes at or above trigger level on any interest payment date
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| Coupon barriers: | $67.991 for PepsiCo, $43.043 for Kroger and $42.21 for Kraft; 70% of initial levels
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| Knock-in levels: | $63.1345 for PepsiCo, $39.9685 for Kroger and $39.195 for Kraft; 65% of initial prices
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 16
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.8%
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| Cusip: | 22547QYY6
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