Published on 11/27/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $550,000 8.1% autocallable yield notes on Amazon
By Sarah Lizee
Olympia, Wash., Nov. 27 – Credit Suisse AG, London Branch priced $550,000 of 8.1% autocallable yield notes due Nov. 25, 2019 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par plus the coupon if stock closes at or above its initial price on a quarterly trigger observation date.
The payout at maturity will be par unless the shares close below the 70% knock-in level, in which case investors will lose 1% for each 1% decline in the stock from its initial level.
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 stock: | Amazon.com, Inc.
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Amount: | $550,000
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Maturity: | Nov. 25, 2019
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Coupon: | 8.1% per year, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless stock finishes below knock-in level, in which case full exposure to any losses
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Call: | At par if stock closes above initial level on any quarterly trigger observation date
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Initial stock price: | $1,512.29
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Knock-in level: | $1,058.603; 70% of initial price
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Pricing date: | Nov. 19
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Settlement date: | Nov. 23
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.325%
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Cusip: | 22551LKJ8
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