By William Gullotti
Buffalo, N.Y., July 7 – Credit Suisse AG, London Branch priced $800,000 of contingent coupon autocallable reverse convertibles due July 6, 2023 linked to the performance of the common stock of Intellia Therapeutics, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 13.875% if the stock closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.
The notes will be called at par plus the coupon due if the stock closes at or above the initial price on any monthly call observation date starting Jan. 3, 2022.
If the stocks finishes at or above the knock-in price, 60% of the initial price, the payout will be par plus the final coupon. If the stock finishes below its knock-in price, investors will be fully exposed to the losses from its initial level, with the proceeds delivered as shares of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable reverse convertibles
|
| Underlying stocks: | Intellia Therapeutics, Inc.
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| Amount: | $800,000
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| Maturity: | July 6, 2023
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| Coupon: | 13.875% per year, payable monthly if the stock closes at or above its coupon barrier price on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon if the stock finishes equal to or above its knock-in price; if the stock finishes below its knock-in price, par plus the decline from its initial level, with proceeds delivered as shares of the stock
|
| Call: | At par plus the coupon due if the stock closes at or above initial price on any monthly call observation date starting Jan. 3, 2022
|
| Initial share price: | $151.61
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| Coupon barrier price: | $90.966; 60% of initial price
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| Knock-in level: | $90.966; 60% of initial price
|
| Strike date: | June 29
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.875%
|
| Cusip: | 22550MUJ6
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