By Marisa Wong
Morgantown, W.Va., Aug. 5 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Aug. 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at the rate of 8.1% per year unless the index closes at or below its knock-in level, 75% of its initial level, on the observation date for that semiannual period.
The notes will be automatically called at par if the index closes at or above its initial index level on any semiannual observation date from Jan. 31, 2017 to Jan. 29, 2021.
The payout at maturity will be par unless the index finishes at or below its knock-in level, in which case investors will be fully exposed to the decline of the index.
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 index: | S&P 500
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| Amount: | $1 million
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| Maturity: | Aug. 3, 2021
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| Coupon: | Contingent semiannual coupon at the rate of 8.1% per year unless the index closes at or below its knock-in level on the observation date for that semiannual period
|
| Price: | Par
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| Payout at maturity: | Par unless index finishes at or below its knock-in level, in which case full exposure to decline
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| Call: | Automatically at par if index closes at or above initial index level on any semiannual observation date from Jan. 31, 2017 to Jan. 29, 202
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| Initial level: | 2,173.60
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| Knock-in level: | 1,630.20; 75% of initial level
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| Pricing date: | July 29
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| Settlement date: | Aug. 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22548QCM5
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