By Sarah Lizee
Olympia, Wash., Aug. 27 – Credit Suisse AG, London Branch priced $6.85 million of contingent coupon callable yield notes due Aug. 30, 2021 linked to the common shares of Shopify Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 15.95% if the stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any payment date.
The payout at maturity will be par unless the stock finishes below its 50% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | Shopify Inc.
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| Amount: | $6.85 million
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| Maturity: | Aug. 30, 2021
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| Coupon: | 15.95% per year, payable quarterly if stock closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to the loss
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| Call: | At par on any coupon payment date
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| Initial prices: | $1,037.19
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| Coupon barrier level: | $518.595; 50% of initial level
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| Knock-in level: | $518.595; 50% of initial level
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.3%
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| Cusip: | 22552WGN9
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