By Taylor Fox
New York, Aug. 20 – Credit Suisse AG, London Branch priced $1.13 million of contingent coupon autocallable yield notes due Aug. 9, 2023 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9% if the 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 the stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless the 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 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: | Apple Inc.
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Amount: | $1,125,000
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Maturity: | Aug. 9, 2023
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Coupon: | 9% per year, payable quarterly if the stock closes at or above its coupon barrier price on the related observation date
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless the stock finishes below its knock-in price, in which case full exposure to decline of stock
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Call: | At par plus the coupon due if the stock closes at or above its initial price on any quarterly observation date
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Initial price: | $137.39
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Knock-in/coupon barrier price: | $96.173, 70% of initial price
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Pricing date: | Feb. 4
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Settlement date: | Feb. 9
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22552XBJ1
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