By Wendy Van Sickle
Columbus, Ohio, May 17 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due May 17, 2019 linked to the least performing of the common stocks of CenturyLink, Inc. and Nordstrom, 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 18.75% if each stock closes at or above its coupon barrier, 65% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless either stock finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses of the least-performing 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 stocks: | CenturyLink, Inc. and Nordstrom, Inc.
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| Amount: | $1 million
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| Maturity: | May 17, 2019
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| Coupon: | 18.75% per year, payable quarterly if each stock closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below knock-in level, in which full exposure to the losses of the least-performing stock
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| Call: | Automatically if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $19.24 for CenturyLink, $49.32 for Nordstrom
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| Barrier/knock-in levels: | $12.506 for CenturyLink, $32.058 for Nordstrom; 65% of initial levels
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| Pricing date: | May 14
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| Settlement date: | May 17
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.25%
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| Cusip: | 22549JTG5
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