By Wendy Van Sickle
Columbus, Ohio, June 19 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Dec. 17, 2021 linked to Teladoc Health, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 60% of the initial share price, on a monthly observation date, the notes will pay a contingent payment for that month at a rate of 29.5% per year, plus any prior unpaid contingent coupon.
The notes will be called at par plus the contingent coupon if the stock closes at or above 80% of its initial price on any monthly trigger observation date after three months.
If the notes are not called, the payout at maturity will be par plus any coupon unless the share price finishes below its 50% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Teladoc Health, Inc.
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| Amount: | $1,001,000
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| Maturity: | Dec. 17, 2021
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| Contingent payment: | 29.5% per year, payable monthly if stock closes at or above coupon barrier level on observation date for that month plus any prior unpaid contingent coupons
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless the share price finishes below knock-in, in which case investors will lose 1% for each 1% decline of the stock
|
| Call: | Automatically at par plus contingent coupon if the stock closes at or above80% of its initial price on any monthly trigger observation date after three months
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| Initial share price: | $172.27
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| Coupon barrier: | $103.362, 60% of initial share price
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| Knock-in price: | $86.135, 50% of initial share price
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| Pricing date: | June 12
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| Settlement date: | June 17
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.529%
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| Cusip: | 22552W6L4
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