By Wendy Van Sickle
Columbus, Ohio, March 7 – Credit Suisse AG, London Branch, priced $3.75 million of contingent coupon autocallable yield notes due March 18, 2020 linked to National Beverage Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 15.7% per year.
If the closing share price is greater than or equal to the initial share price on any observation date other than the final one, the notes will be automatically redeemed at par plus the contingent coupon.
The payout at maturity will be par unless the shares finish below the 70% knock-in level, in which case investors will lose 1% for each 1% decline in the stock from its initial level.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | National Beverage Corp.
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| Amount: | $3.75 million
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| Maturity: | March 18, 2020
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| Contingent payment: | 15.7% per year, payable each quarter the stock closes at or above coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless the shares finish below the knock-in level, in which case investors will lose 1% for each 1% decline in the stock from its initial level
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| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any observation date other than final date
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| Initial share price: | $67.65
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| Coupon barrier: | $47.36, 70% of initial share price
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| Knock-in price: | $47.36, 70% of initial share price
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| Pricing date: | March 4
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| Settlement date: | March 7
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0.55%
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| Cusip: | 22552F2D3
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