Published on 9/28/2016 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $3.65 million contingent coupon autocallables on three stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Credit Suisse AG, London Branch priced $3.65 million of contingent coupon autocallable yield notes due Sept. 28, 2017 linked to the worst performing of the common stock of Amazon.com, Inc., Wal-Mart Stores, Inc. common stock and Walt Disney Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 10.65% if each stock closes at or above its coupon barrier level, 70% of the initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its initial level on any observation date.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the worst performing stock below the knock-in level.
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: | Wal-Mart Stores, Inc. (Nasdaq: WMT), Walt Disney Co. (Nasdaq: DIS) and Amazon.com, Inc. (Nasdaq: AMZN)
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| Amount: | $3,653,000
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| Maturity: | Sept. 28, 2017
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| Coupon: | 10.65% per year, payable monthly if worst-performing stock closes at or above barrier price on valuation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case full exposure to decline of worst-performing stock
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| Call: | Automatically at par plus contingent coupon if worst-performing stock closes at or above initial share price on any observation date
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| Initial share prices: | $72.35 for Wal-Mart, $93.27 for Disney and $805.75 for Amazon
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| Barrier/knock-in levels: | $50.645 for Wal-Mart, $65.289 for Disney and $564.025 for Amazon; 70% of initial share prices
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Underwriter: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22548QJA4
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