Published on 3/24/2017 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $747,000 autocallable yield notes tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, March 24 – Credit Suisse AG, London Branch priced $747,000 of 18.1% of autocallable yield notes due March 26, 2018 linked to the lowest performing of the common stocks of Tenet Healthcare Corp., Molina Healthcare, Inc. and Centene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if each stock closes above its initial level on any monthly observation date beginning June 21.
The payout at maturity will be par unless any of the stocks finishes below its 70% knock-in level, in which case investors will receive a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Tenet Healthcare Corp., Molina Healthcare, Inc. and Centene Corp.
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| Amount: | $747,000
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| Maturity: | March 26, 2018
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| Coupon: | 18.1% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus unless any stock closes below its knock-in level, in which case a number of shares of the worst-performing stock equal to $1,000 divided by the initial share price
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| Call option: | Automatically at par if each stock closes at or above its initial level on any monthly observation date beginning June 21
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| Initial prices: | $16.44 for Tenet, $44.01 for Molina, $66.92 for Centene
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| Knock-in prices: | $11.508 for Tenet, $30.807 for Molina, $46.844 for Centene; 70% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JFM7
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