Published on 6/19/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $1.37 million 7% autocallable buffered notes linked to salesforce.com
By Angela McDaniels
Tacoma, Wash., June 19 – Credit Suisse AG, London Branch priced $1.37 million of 7% autocallable coupon buffered securities due June 20, 2018 linked to the common stock of salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if salesforce.com stock closes at or above its initial share price on Sept. 15, 2017, Dec. 15, 2017 or March 15, 2018.
If the notes are not called and the final share price is less than the initial share price by not more than 10%, the payout at maturity will be par. Otherwise, investors will receive a number of salesforce.com shares equal to (i) (a) $1,000 multiplied by (b) the sum of one plus the stock return plus 10% (ii) divided by the final share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable coupon buffered securities
|
| Underlying stock: | salesforce.com, inc. (Symbol: CRM)
|
| Amount: | $1,366,000
|
| Maturity: | June 20, 2018
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than initial share price by not more than 10%, par; otherwise, number of salesforce.com shares equal to (i) (a) $1,000 multiplied by (b) sum of one plus stock return plus 10% (ii) divided by final share price or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | Automatically at par if salesforce.com stock closes at or above initial share price on Sept. 15, 2017, Dec. 15, 2017 or March 15, 2018
|
| Initial share price: | $87.17 (closing share price on June 14)
|
| Pricing date: | June 15
|
| Settlement date: | June 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22549JHP8
|
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