By Sarah Lizee
Olympia, Wash., Sept. 18 – Credit Suisse AG, London Branch priced $59.8 million of 0% equity-linked notes due Sept. 24, 2027 linked to the common stock of Merck & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be the reference value, which is the product of the final level multiplied by a 8.15648 conversion ratio. In other words, the return on the securities will be less than 1% for every 1% increase in the underlying stock beyond a 43.5% percentage increase in the final level of the stock.
If the reference value is less than $1,000, meaning the final level of the stock is less than a 43.5% increase in the stock price, investors will receive par at maturity.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Merck & Co., Inc.
|
| Amount: | $59.8 million
|
| Maturity: | Sept. 24, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | 8.15648 times the stock price; par if stock gains by 43.5% or less or decreases
|
| Conversion ratio: | 8.15648
|
| Initial share price: | $85.4369
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 24
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22552WLX1
|
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