By Kiku Steinfeld
Chicago, Feb. 22 – Credit Suisse AG, London Branch priced $1.04 million of contingent coupon autocallable yield notes due Aug. 19, 2022 linked to Tesla Motors, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon of 14.2% annualized if the stock closes at or above its coupon barrier level, 60% of the initial level, on any monthly observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above 85% of its initial level on any interest payment date after three months.
The payout at maturity will be par unless the stock finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses.
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: | Tesla Motors, Inc. (Symbol: TSLA)
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Amount: | $1.04 million
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Maturity: | Aug. 19, 2022
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Coupon: | 14.2%, payable monthly if stock closes at or above its coupon barrier level on observation date for month
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Price: | Par
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Payout at maturity: | If stock falls below knock-in level, par plus return; otherwise, par
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Call: | At par plus coupon if stock closes at or above 85% of its initial level on any interest payment date after three months
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Initial level: | $816.12
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Coupon barrier: | $489.672, 60% of initial level
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Trigger level: | $408.06; 50% of initial level
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Pricing date: | Feb. 12
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Settlement date: | Feb. 19
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.225%
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Cusip: | 22552XBQ5
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