New Issue: Credit Suisse prices $1 million 15.5% autocallable yield notes on Isis Pharmaceuticals

By Toni Weeks

San Luis Obispo, Calif., June 19 – Credit Suisse AG, London Branch priced $1 million of 15.5% autocallable yield notes due June 24, 2016 linked to the common stock of Isis Pharmaceuticals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if the stock closes at or above its initial share price on Dec. 17, Jan. 15, 2016, Feb. 17, 2016, March 17, 2016, April 18, 2016 or May 17, 2016.

The payout at maturity will be par unless the stock ever closes at or below its knock-in level, 50% of its initial share price, during the life of the notes and finishes below its initial share price, in which case investors will receive par plus the stock return, with full exposure to losses.

Morgan Stanley & Co. LLC is the distributor.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable yield notes
Underlying stock:	Isis Pharmaceuticals, Inc. (Symbol: ISIS)
Amount:	$1 million
Maturity:	June 24, 2016
Coupon:	15.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock ever closes at or below knock-in level and finishes below initial price, in which case full exposure to decline in share price
Call:	At par if stock closes at or above initial share price on Dec. 17, Jan. 15, 2016, Feb. 17, 2016, March 17, 2016, April 18, 2016 or May 17, 2016
Initial price:	$62.18
Knock-in level:	$31.09, 50% of initial level
Pricing date:	June 17
Settlement date:	June 24
Distributor:	Morgan Stanley & Co. LLC
Fees:	1.5%
Cusip:	22546VFQ4

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