Published on 8/13/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $4.36 million autocallable yield notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – Credit Suisse AG, London Branch priced $4.36 million of autocallable yield notes due Aug. 2, 2021 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc., Facebook, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 8.2%.
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
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Issue: | Autocallable yield notes
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Underlying stocks: | Apple Inc., Amazon.com, Inc., Facebook, Inc. and Alphabet Inc.
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Amount: | $4,361,000
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Maturity: | Aug. 2, 2021
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Coupon: | 8.2% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
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Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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Initial prices: | $194.21 for Apple, $1,808 for Amazon, $176.26 for Facebook, $1,268.33 for Alphabet
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Knock-in levels: | $116.526 for Apple, $1,084.80 for Amazon, $105.756 for Facebook, $760.998 for Alphabet; 60% of initial levels
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Pricing date: | July 26
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Settlement date: | Aug. 1
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Agent: | Incapital LLC
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Fees: | 3.3%
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Cusip: | 22550BUD3
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