By Wendy Van Sickle
Columbus, Ohio, May 17– Credit Suisse AG, London Branch priced $600,000 of contingent coupon callable yield notes due May 12, 2021 linked to the common shares of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.75% if the stock closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any payment date beginning on Feb. 12, 2020.
The payout at maturity will be par unless the stock finishes below its 75% 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 callable yield notes
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Underlying shares: | Intel Corp.
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Amount: | $600,000
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Maturity: | May 12, 2021
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Coupon: | 10.75% per year, payable quarterly if stock closes at or above its coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to the loss
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Call: | At par on any coupon payment date beginning Feb. 12, 2020
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Initial prices: | $50.48
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Coupon barrier level: | $37.86; 75% of initial level
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Knock-in level: | $37.86; 75% of initial level
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Pricing date: | May 7
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Settlement date: | May 10
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.25%
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Cusip: | 22552FEE8
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