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Published on 8/13/2019 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse $1 million contingent coupon autocallable yield notes on three stocks

By Wendy Van Sickle

Columbus, Ohio, Aug. 13 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Aug. 12, 2025 linked to the lowest performing of the common stocks of Apple Inc., Amazon.com, Inc. and Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annualized rate of 21.7% if each stock closes at or above its barrier level, 65% of its initial level, on a related observation date.

The notes will be called at par if each stock closes above its initial level on any monthly observation date after three months.

The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case the payout will be par plus the return of the lesser performing stock with full exposure to losses.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:Credit Suisse AG, London Branch
Issue:Contingent coupon autocallable yield notes
Underlying stocks:Apple Inc., Amazon.com, Inc. and Uber Technologies, Inc.
Amount:$1 million
Maturity:Aug. 12, 2025
Coupon:21.7% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
Price:Par
Payout at maturity:Par unless any stock finishes below initial level any stock finishes below its knock-in level, in which case the payout will be par plus the return of the least performing stock with full exposure to losses
Call:At par if each stock closes above initial level on any observation date after three months
Initial levels:$199.04 for Apple, $1,793.40 for Amazon, $39.70 for Uber
Coupon barrier levels:$129.376 for Apple, $1,165.71 for Amazon, $25.805 for Uber, 65% of initial levels
Knock-in levels:$119.424 for Apple, $1,076.04 for Amazon, $23.82 for Uber, 60% of initial levels
Pricing date:Aug. 7
Settlement date:Aug. 12
Agent:Credit Suisse Securities (USA) LLC
Fees:0.5%
Cusip:22552FSE3

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