By Wendy Van Sickle
Columbus, Ohio, March 18 – Credit Suisse AG, London Branch, priced $10 million of 17.8% autocallable fixed income securities due March 18, 2021 linked to Boeing Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial price on any monthly trigger observation date.
If the notes are not called, the payout at maturity will be par unless the share price finishes below its 50% buffer level, in which case the payout will be a number of Boeing shares equal to $1,000 divided by the buffer level or, at the issuer’s option, an amount of cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Wealth Management as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable fixed-income securities
|
| Underlying stock: | Boeing Co. (Symbol: BA)
|
| Amount: | $10 million
|
| Maturity: | March 18, 2021
|
| Contingent payment: | 17.8% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the share price finishes below the buffer level, in which case 11.9847 Boeing shares (equal to $1,000 divided by buffer level) or equivalent amount in cash
|
| Call: | Automatically at par if the stock closes at or above its initial price on any monthly trigger observation date
|
| Initial share price: | $166.88
|
| Buffer level: | $83.44, 50% of initial share price
|
| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 0.2%
|
| Cusip: | 22550MBX6
|
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