By Susanna Moon
Chicago, Aug. 26 – Credit Suisse AG, London Branch priced $1.2 million of autocallable contingent coupon buffered notes due Aug. 27, 2018 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon if Apple stock closes at or above the 70% coupon barrier level for that month.
The notes will be called at par plus the contingent coupon if the price of Apple stock closes at or above the initial price on any call observation date after one year.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will lose 1.25% for every 1% decline beyond 20%.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London branch
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| Issue: | Autocallable contingent coupon buffered notes
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| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
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| Amount: | $1.2 million
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| Maturity: | Aug. 27, 2018
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| Coupon: | 10% annualized, payable monthly if Apple stock closes at or above barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above barrier level, par plus contingent coupon; otherwise, 1.25% loss for every 1% decline beyond 20%
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| Call: | At par plus contingent coupon if price of Apple stock closes at or above initial price on call observation date
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| Initial level: | $112.65
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| Barrier level: | $90.12, 80% of initial level
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.1%
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| Cusip: | 22546VKJ4
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