Published on 3/19/2018 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse sells $500,000 contingent coupon autocallable yield notes on three stocks
New York, March 19 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due March 18, 2019 linked to the least performing of the common stocks of Incyte Corp., Nvidia Corp. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 32.1% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
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 70% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Incyte Corp., Nvidia Corp. and Wynn Resorts, Ltd.
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| Amount: | $500,000
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| Maturity: | March 18, 2019
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| Coupon: | 32.1% per year, payable quarterly if each stock closes at or above its barrier level on quarterly observation date
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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: | $86.61 for Incyte, $236.54 for Nvidia, $163.06 for Wynn
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| Coupon barriers: | $60.627 for Incyte, $165.578 for Nvidia, $114.142 for Wynn; 70% of initial levels
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| Knock-in levels: | $60.627 for Incyte, $165.578 for Nvidia, $114.142 for Wynn; 70% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 16
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22549JRL6
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