Published on 5/7/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 20% contingent coupon callable yield notes on Amazon, CVS, Micron
By Wendy Van Sickle
Columbus, Ohio, May 7 – Credit Suisse AG, London Branch priced 20% $500,000 of contingent coupon callable yield notes due May 4, 2020 linked to the lowest performing of the common stocks of Amazon.com, Inc., CVS Health Corp. and Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 20% if each stock closes above its coupon barrier level, 60% of its initial level, on the observation date for that period.
Starting Aug. 2, 2018. Credit Suisse may call the notes at par on any coupon payment date.
The payout at maturity will be par unless any stock finishes below its knock-in level, 60% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying stocks: | Amazon.com, Inc., CVS Health Corp. and Micron Technology, Inc.
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| Amount: | $500,000
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| Maturity: | May 4, 2020
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| Coupon: | 20% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock stock finishes below its knock-in level, in which case full exposure to any losses
|
| Call option: | At par on any quarterly call observation date beginning Aug. 2
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| Initial prices: | $1,572.62 for Amazon, $69.95 for CVS, $47.52 for Micron
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| Coupon barrier/knock-in levels: | $943.572 for Amazon, $41.97 for CVS, $28.512 for Micron; 60% of initial prices
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| Pricing date: | April 27
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| Settlement date: | May 2
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| Agent: | Incapital LLC
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| Fees: | 2%
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| Cusip: | 22550WRE9
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