By Tali Rackner
Minneapolis, Jan. 30 – Credit Suisse AG, London Branch priced 23.32 million of contingent coupon autocallable reverse convertible securities due April 26, 2019 linked to the common stock of Alaska Air Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.3% if the stock closes at or above its 70% coupon barrier level on an observation date for that month.
The notes will be called at par if the shares close at or above the initial level on July 23, 2018, Oct. 23, 2018 or Jan. 23, 2019.
The payout at maturity will be par unless the shares finish below the initial level and close below the 70% knock-in level any day during the life of the notes, in which case investors will receive a number of Alaska Air shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible securities
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| Underlying stock: | Alaska Air Group, Inc. (Symbol: ALK)
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| Amount: | $2,322,000
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| Maturity: | April 26, 2019
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| Coupon: | 8.3%, payable monthly if stock closes at or above coupon barrier on an observation ate for that month
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| Price: | Par
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| Payout at maturity: | Par unless shares finish below initial level and close below knock-in level on any day during the life of the notes, in which case number of shares equal to $1,000 divided by initial share price
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| Call: | At par if the stock closes at or above initial share price on any observation date
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| Initial share price: | $69.47
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| Knock-in/coupon barrier: | $48.629; 70% of initial share price
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 26
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 22549JPC8
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