By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – Credit Suisse AG, London Branch, priced $1.25 million of contingent coupon autocallable yield notes due May 4, 2023 linked to the common stock of CrowdStrike Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment at a rate of 14% per year if the stock closes at or above the coupon barrier level, 70% of the initial level, on any quarterly observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above 85% of initial price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the 70% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | CrowdStrike Holdings, Inc.
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| Amount: | $1.25 million
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| Maturity: | May 4, 2023
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| Contingent payment: | 14% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock
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| Call: | Automatically at par plus contingent coupon if the stock closes at or above 85% of its initial level on any quarterly trigger observation date
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| Initial level: | $123.84
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| Coupon barrier/knock-ins: | $86.688; 70% of initial level
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.25%
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| Cusip: | 22552WQV0
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