Published on 9/4/2019 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $300,000 autocallable coupon buffered notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – Credit Suisse AG, London Branch priced $300,000 of 10.25% autocallable coupon buffered securities due Sept. 3, 2021 linked to the stocks of Comcast Corp., Nike, Inc., Starbucks Corp. and TJX Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each stock closes at or above its initial level on quarterly trigger observation date starting Aug. 31, 2020.
The payout at maturity will be par unless any stock’s final level is less than 80% of its initial level, in which case investors will lose 1.25% for each 1% that the least-performing stock declines beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable coupon buffered securities
|
| Underlying stocks: | Comcast Corp., Nike, Inc., Starbucks Corp. and TJX Cos., Inc.
|
| Amount: | $300,000
|
| Maturity: | Sept. 3, 2021
|
| Coupon: | 10.25%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock’s final level is less than 80% of its initial level, in which case 1.25% loss for each 1% that least-performing stock declines beyond 20%
|
| Call: | Automatically at par if each stock closes at or above initial level on quarterly trigger observation date starting Aug. 31, 2020
|
| Initial levels: | $43.60 for Comcast, $82.03 for Nike, $96.09 for Starbucks and $53.41 for TJX
|
| Buffer levels: | $34.88 for Comcast, $65.624 for Nike, $76.872 for Starbucks and $42.728 for TJX, 80% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 3
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.4%
|
| Cusip: | 22552FV74
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
