By Taylor Fox
New York, Jan. 19 – Credit Suisse AG, London Branch priced $4.73 million of contingent coupon autocallable yield notes due Dec. 29, 2023 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are United Rentals, Inc., Kroger Co. and PayPal Holdings, Inc.
The notes will pay a monthly contingent coupon at an annual rate of 11.35% if each stock closes at or above its coupon barrier, 55% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its trigger level, 100% of the initial level, on any quarterly trigger observation date starting June 24.
The payout at maturity will be par unless any stock finishes below its 55% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is InCapital LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | United Rentals, Inc., Kroger Co. and PayPal Holdings, Inc.
|
| Amount: | $4,731,000
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| Maturity: | Dec. 29, 2023
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| Coupon: | 11.35% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above trigger level on any quarterly trigger observation date starting June 24
|
| Initial prices: | $230.93 for United Rentals, $31.39 for Kroger and $239.44 for PayPal
|
| Coupon barrier levels: | $127.0115 for United Rentals, $17.2645 for Kroger and $131.692 for PayPal; 55% of initial levels
|
| Knock-in levels: | $127.0115 for United Rentals, $17.2645 for Kroger and $131.692 for PayPal; 55% of initial levels
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| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | InCapital LLC
|
| Fees: | 3.5%
|
| Cusip: | 22552WV77
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