By Wendy Van Sickle
Columbus, Ohio, March 12 – Credit Suisse AG, London Branch priced $1.01 million of contingent coupon autocallable reverse convertible securities due June 7, 2021 linked to the common stock of Biogen Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 7.25% if the stock closes at or above its 50% coupon barrier level on a monthly observation date.
The notes will be called at par if the shares close at or above the initial share price on any quarterly trigger observation date after six months.
The payout at maturity will be par unless the shares finish below the initial price and ever close below the knock-in level, 50% of the initial level, during the life of the notes, in which case investors will be exposed to the decline of the stock.
Credit Suisse Securities (USA) LLC is the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable reverse convertible securities
|
| Underlying stock: | Biogen Inc.
|
| Amount: | $1,014,000
|
| Maturity: | June 7, 2021
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| Coupon: | 7.25% payable monthly if the stock closes at or above its coupon barrier level on a monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below initial price and ever close below knock-in price, in which case exposure to decline of stock
|
| Call: | At par if shares close at or above initial share price on any quarterly trigger observation date after six months
|
| Initial level: | $327.89
|
| Coupon barrier: | $163.945, 50% of initial level
|
| Knock-in price: | $163.945, 50% of initial level
|
| Pricing date: | March 2
|
| Settlement date: | March 5
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.25% Cusip: | 225510MAY5
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