Published on 5/12/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $708,000 autocallable yield notes on three stocks
By Devika Patel
Knoxville, Tenn., May 12 – Credit Suisse AG, London Branch priced $708,000 of 15.6% autocallable yield notes due May 14, 2018 linked to the common stocks of Advanced Micro Devices, Inc., Tesla, 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. 9, 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: | Advanced Micro Devices, Inc., Tesla, Inc. and Twitter, Inc.
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| Amount: | $708,000
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| Maturity: | May 14, 2018
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| Coupon: | 15.6%, 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
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| Call: | Automatically at par if stocks close at or above their initial levels on any monthly review date beginning Aug. 9, 2017
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| Initial share prices: | $10.18 for Advanced Micro, $321.26 for Tesla and $18.37 for Twitter
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| Trigger share prices: | $5.599 for Advanced Micro, $176.693 for Tesla and $10.1035 for Twitter, 55% of initial levels
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| Pricing date: | May 9
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| Settlement date: | May 12
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JGQ7
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