By Kiku Steinfeld
Chicago, Oct. 5 – Credit Suisse AG, London Branch priced $4.01 million of contingent coupon autocallable yield notes due Jan. 3, 2022 linked to the class A common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 65% of the initial share price, on a monthly observation date, the notes will pay a contingent coupon at the rate of 7% per year for that month.
The notes will be automatically called at par if the stock closes at or above the initial share price on any monthly observation date after six months.
The payout at maturity will be par unless the stock finishes below the 65% barrier level, in which case investors will lose 1% for every 1% that the stock declines from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | JPMorgan Chase & Co.
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| Amount: | $4,012,000
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| Maturity: | Jan. 3, 2022
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| Coupon: | If stock closes at or above buffer level on monthly observation date, notes pay contingent coupon at rate of 7% per year for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below barrier level, in which case investors will lose 1% for every 1% that stock declines
|
| Call: | Automatically at par if stock closes at or above initial share price on any monthly observation date after six months
|
| Initial share price: | $96.16
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| Barrier level: | $62.504, 65% of initial share price
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| Coupon barrier level: | $62.504, 65% of initial share price
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
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| Cusip: | 22552WMT9
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