Published on 6/5/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $760,000 14.75% autocallable yield notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, June 5 – Credit Suisse AG, London Branch priced $760,000 of 14.75% autocallable yield notes due May 31, 2018 linked to the common stocks on Facebook, Inc., Snap Inc. and Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any monthly review date beginning Aug. 28, 2017.
The payout at maturity will be par unless any stock finishes below its 55% trigger level, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the company’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Facebook, Inc., Snap Inc. and Twitter, Inc.
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| Amount: | $760,000
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| Maturity: | May 31, 2018
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| Coupon: | 14.75%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its 55% trigger level, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
|
| Call: | Automatically at par if stocks close at or above their initial levels on any monthly review date beginning Aug. 28, 2017
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| Initial share prices: | $151.96 for Facebook, $21.93 for Snap and $9.8725 for Twitter
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| Trigger share prices: | $83.578 for Facebook, $12.0615 for Snap and $17.95 for Twitter, 55% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JGZ7
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