By Susanna Moon
Chicago, March 25 – Credit Suisse AG, London Branch priced $950,000 of contingent coupon autocallable yield notes due March 27, 2019 linked to the worst performing of four stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Thermo Fisher Scientific Inc., Dollar Tree, Inc., Express Scripts Holding Co. and Constellation Brands, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each stock closes at or above the barrier level, 80% of the initial share price, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below the 80% barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Thermo Fisher Scientific Inc., Dollar Tree, Inc., Express Scripts Holding Co. and Constellation Brands, Inc.
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| Amount: | $950,000
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| Maturity: | March 27, 2019
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| Coupon: | 7% annualized for each quarter that each stock closes at or above coupon barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier level, par; otherwise, full exposure to any losses of the worst performing stock
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| Call: | At par if each stock closes at or above initial share price on any quarterly observation date
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| Initial levels: | $136.63 for Thermo Fisher, $83.81 for Dollar Tree, $85.38 for Express Scripts and $118.25 for Constellation
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| Barrier levels: | 80% of initial levels
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22546VA63
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