Published on 10/10/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.4 million contingent coupon autocallables on three stocks
By Marisa Wong
Morgantown, W.Va., Oct. 10 – Credit Suisse AG, London Branch priced $4.4 million of contingent coupon autocallable yield notes due Oct. 5, 2020 linked to the least performing of the common stocks of Apple Inc., Microsoft Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above its coupon barrier, 70% of its initial price, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annual rate of 18.25%.
The notes will be called at par if each stock closes at or above its initial price on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes at or below its 70% knock-in level, in which case investors will be fully exposed to any decline of the least-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: | Apple Inc. (Symbol: AAPL), Microsoft Corp. (Symbol: MSFT) and Nvidia Corp. (Symbol: NVDA)
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| Amount: | $4.4 million
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| Maturity: | Oct. 5, 2020
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| Coupon: | 18.25% per year, payable each quarter that each stock closes at or above its coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes at or below knock-in price, in which full exposure to the losses of the least-performing stock
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| Call: | Automatically if each stock closes at or above its initial price on any quarterly trigger observation date
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| Initial prices: | $150.55 for Apple, $73.26 for Microsoft, $171 for Nvidia
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| Coupon barriers: | $105.385 for Apple, $51.282 for Microsoft, $119.70 for Nvidia; 70% of initial prices
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| Knock-in prices: | $105.385 for Apple, $51.282 for Microsoft, $119.70 for Nvidia; 70% of initial prices
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22550BK77
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