Published on 4/8/2015 in the Prospect News Structured Products Daily.
New Issue: Credit Suisse prices $500,000 contingent coupon autocallables linked to stocks
By Angela McDaniels
Tacoma, Wash., April 8 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due April 22, 2019 linked to the worst performing of four stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Thermo Fisher Scientific Inc., Dollar Tree, Inc., Express Scripts Holding Co. and Constellation Brands, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if each stock closes at or above its barrier level, 60% of its initial share price, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial share price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its barrier level, in which case investors will be fully exposed to the decline of the worst-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Thermo Fisher Scientific Inc., Dollar Tree, Inc., Express Scripts Holding Co. and Constellation Brands, Inc.
|
| Amount: | $500,000
|
| Maturity: | April 22, 2019
|
| Coupon: | 7% per year, payable quarterly if each stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above barrier price, par; otherwise, full exposure to decline of worst-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $133.50 for Thermo Fisher, $80.98 for Dollar Tree, $84.88 for Express Scripts and $119.38 for Constellation
|
| Barrier prices: | $80.10 for Thermo Fisher, $48.588 for Dollar Tree, $50.928 for Express Scripts and $71.628 for Constellation; 60% of initial share prices
|
| Pricing date: | April 6
|
| Settlement date: | April 22
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22546VBC9
|
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