By Susanna Moon
Chicago, July 3 – Credit Suisse AG, London Branch priced $4.88 million of contingent coupon autocallable reverse convertible notes due Sept. 30, 2019 linked to American Airlines Group Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.68% if the underlying stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the underlying stock finishes below its initial level and ever closes below its 70% knock-in level during the life of the notes, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible notes
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| Underlying stocks: | American Airlines Group Inc. | (Symbol: AAL)
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| Amount: | $4.88 million
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| Maturity: | Sept. 30, 2019
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| Contingent coupon: | 10.68% annualized, payable quarterly if stock closes at or above its 70% coupon barrier on the observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock ends below initial level and ever closes below 70% knock-in level, in which case a number of shares equal to $1,000 divided by initial share price
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| Call: | At par if stock closes at or above initial share price on any quarterly observation date beginning Dec. 26, 2018
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| Initial level: | $39.09
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| knock-in level: | $27.363, 70% of initial level
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| Pricing date: | June 26
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| Settlement date: | June 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 22549JUG3
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