By Kiku Steinfeld
Chicago, Oct. 6 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Feb. 18, 2027 linked to the least performing of the stocks of eBay Inc. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 9.25% if each stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly autocall observation date after one year.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | eBay Inc. and PayPal Holdings, Inc.
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Amount: | $1 million
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Maturity: | Feb. 18, 2027
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Coupon: | 9.25% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless any stock finishes below its knock-in level, in which case full exposure to decline of the least-performing stock from its initial level
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly autocall observation date after one year
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Initial levels: | $57.65 for eBay, $110.54 for PayPal
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Coupon barriers: | $28.825 for eBay, $55.27 for PayPal; 50% of initial levels
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Knock-in levels: | $28.825 for eBay, $55.27 for PayPal; 50% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 18
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.35%
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Cusip: | 22553PJS9
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