By Taylor Fox
New York, Feb. 22 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Aug. 16, 2023 linked to the least performing of the common stocks of Biogen Inc. and Viatris Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 17.75% if each stock closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes will be called at par plus the coupon due if both stocks close at or above 90% of their initial prices on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its knock-in price, 70% of its initial price, in which case investors will be fully exposed to the decline of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Biogen Inc. and Viatris Inc.
|
| Amount: | $500,000
|
| Maturity: | Aug. 16, 2023
|
| Coupon: | 17.75% per year, payable quarterly if each stock closes at or above its coupon barrier price on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless any stock finishes below its knock-in price, in which case full exposure to decline of least-performing stock
|
| Call: | At par plus the coupon due if both stocks close at or above 90% of their initial prices on any quarterly observation date
|
| Initial prices: | $275 for Biogen and $18.39 for Viatris
|
| Knock-in prices: | $192.5 for Biogen and $12.873 for Viatris; 70% of initial prices
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| Coupon barrier prices: | $192.5 for Biogen and $12.873 for Viatris; 70% of initial prices
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 16
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.25%
|
| Cusip: | 22552XBV4
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