Published on 2/9/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.52 million contingent coupon callable yield notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Credit Suisse AG, London Branch priced $1.52 million of contingent coupon callable yield notes due Feb. 14, 2022 linked to the common stocks of Apple Inc. and Starbucks Corp. and the American Depository shares of Anheuser-Busch InBev SA/NV, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 10% per year unless any stock closes below its 60% coupon barrier on the observation date that month.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
The notes will be callable at par on any quarterly call date beginning in August.
Credit Suisse Securities (USA) 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: | Apple Inc., Starbucks Corp. and Anheuser-Busch InBev SA/NV
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| Amount: | $1,523,000
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| Maturity: | Feb. 14, 2022
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| Coupon: | 10% per year, payable monthly unless any stock closes below coupon barrier on observation date that month
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case 1% loss for each 1% decline of worst performing stock
|
| Call option: | At par on any quarterly call date starting in August
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| Initial levels: | $156.49 for Apple, $106.97 for Starbucks, $54.69 for Anheuser-Busch
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| Coupon barriers: | $106.97 for Apple, $64.182 for Starbucks, $32.814 for Anheuser-Busch; 60% of initial levels
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| Knock-in levels: | $106.97 for Apple, $64.182 for Starbucks, $32.814 for Anheuser-Busch; 60% of initial levels
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 12
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 22550WD38
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