Published on 12/28/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.74 million contingent coupon autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – Credit Suisse AG, London Branch priced $1.74 million of contingent coupon autocallable yield notes due Dec. 27, 2021 linked to the least performing of the shares of Apple Inc., Oracle Corp. and Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 12.5% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Apple Inc., Oracle Corp. and Cisco Systems, Inc.
|
| Amount: | $1,739,000
|
| Maturity: | Dec. 27, 2021
|
| Coupon: | 12.5% per year, payable quarterly if each stock closes at or above its barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
|
| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
|
| Initial prices: | $150.73 for Apple, $44.00 for Oracle, $41.85 for Cisco
|
| Coupon barriers: | $90.438 for Apple, $26.40 for Oracle, $25.11 for Cisco; 60% of initial levels
|
| Knock-in levels: | $90.438 for Apple, $26.40 for Oracle, $25.11 for Cisco; 60% of initial levels Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.875%
|
| Cusip: | 22551LPQ7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
