Published on 6/19/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $2.65 million contingent coupon autocallable yield notes on stocks
By Sarah Lizee
Olympia, Wash., June 19 – Credit Suisse AG, London Branch priced $2.65 million of contingent coupon autocallable yield notes due June 20, 2024 to the common stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 16% if each stock closes at or above its coupon barrier, 60% of its initial level, on the observation date.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Incapital LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Netflix, Inc.
|
| Amount: | $2,647,000
|
| Maturity: | June 20, 2024
|
| Coupon: | 16% per year, payable quarterly if each stock closes at or above its barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
|
| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
|
| Initial prices: | $193.89 for Apple, $1,886.03 for Amazon, $1,092.50 for Alphabet, $350.62 for Netflix
|
| Coupon barriers: | $116.334 for Apple, $1,131.618 for Amazon, $655.50 for Alphabet, $210.372 for Netflix; 60% of initial prices
|
| Knock-in levels: | $116.334 for Apple, $1,131.618 for Amazon, $655.50 for Alphabet, $210.372 for Netflix; 60% of initial prices
|
| Pricing date: | June 17
|
| Settlement date: | June 20
|
| Agent: | Incapital LLC
|
| Fees: | 4%
|
| Cusip: | 22552FGM8
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