By Taylor Fox
New York, Nov. 23 – Credit Suisse AG, London Branch priced $685,000 of 20% autocallable reverse convertible securities due Nov. 16, 2021 linked to the least performing of the common stocks of Beyond Meat, Inc. and the class A common stock of Palantir Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares of the least performing stock close at or above their initial price on any monthly trigger observation date starting in February.
The payout at maturity will be par unless any of the stocks finishes below its 60% knock-in level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable reverse convertible securities
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| Underlying stocks: | Beyond Meat, Inc. and Palantir Technologies Inc.
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| Amount: | $685,000
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| Maturity: | Nov. 16, 2021
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| Coupon: | 20% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in price, in which case shares of least performing stock equal to $1,000 divided by initial share price or amount in cash equal to value of those shares
|
| Call: | At par plus the coupon if shares close at or above initial share price on any monthly trigger observation date starting in February
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| Initial prices: | $128.90 for Beyond Meat and $14.58 for Palantir
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| Knock-ins levels: | $77.34 for Beyond Meat and $8.748 for Palantir; 60% of initial levels
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| Pricing date: | Nov. 12
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| Settlement date: | Nov. 16
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22550MLN7
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