Published on 1/30/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $1.75 million contingent coupon autocallables on three stocks
By Devika Patel
Knoxville, Tenn., Jan. 30 – Credit Suisse AG, London Branch, priced $1.75 million of contingent coupon autocallable yield notes due Jan. 29, 2021 linked to the common stock of E*Trade Financial Corp., Southwest Airlines Co. and Viacom Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.7% if each stock closes at or above its coupon barrier level, 50% of its initial level, on each trading day that month.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date beginning July 26, 2018.
The payout at maturity will be par unless any stock finishes below its 50% knock-in 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
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlyings: | Common stock of E*Trade Financial Corp., Southwest Airlines Co. and Viacom Inc.
|
| Amount: | $1,749,000
|
| Maturity: | Jan. 29, 2021
|
| Coupon: | 10.7% per year payable monthly if all stocks close at or above coupon barrier levels on each trading day that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case 1% loss for each 1% decline of the worst-performing stock from its initial level
|
| Call option: | At par if all stocks close at or above their initial levels on any quarterly observation date beginning July 26, 2018
|
| Initial level: | $53.49 for E*Trade, $60.82 for Southwest, $34.09 for Viacom
|
| Coupon barrier/knock-in levels: | $26.745 for E*Trade, $30.41 for Southwest, $17.045 for Viacom, 50% of initial levels
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Agent: | Incapital LLC
|
| Fees: | 3.4%
|
| Cusip: | 22550W5A1
|
© 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.
