By Wendy Van Sickle
Columbus, Ohio, March 25 – Credit Suisse AG, London Branch, priced $2.05 million of contingent coupon autocallable yield notes due Sept. 9, 2022 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly payment at a rate of 15.25% per year if the stock closes at or above the 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 initial price on any monthly trigger observation date after three months.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the 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
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $2,045,000
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| Maturity: | Sept. 9, 2022
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| Contingent payment: | 15.25% per year, payable monthly if stock closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in level, 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 above its initial level on any monthly trigger observation date after three months
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| Initial level: | $621.44
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| Coupon barrier: | $372.864 60% of initial level
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| Knock-in levels: | $310.72; 50% of initial level
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| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.225%
|
| Cusip: | 22552XE74
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