By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – Credit Suisse AG, London Branch priced $4.47 million of contingent coupon autocallable yield notes due Dec. 26, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9.5% if the index closes at or above its barrier level, 80% of its initial level, on a related observation date.
The notes will be called at par if the index closes above its initial level on any quarterly autocall observation date.
The payout at maturity will be par unless the index finishes below its 80% knock-in, in which case investors will be fully exposed to any losses.
J.P. Morgan is the placement agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying index: | S&P 500
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Amount: | $4.47 million
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Maturity: | Dec. 26, 2019
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Coupon: | 9.5% per year, payable quarterly if index closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless index finishes below knock-in level, in which case full exposure to any losses
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Call: | At par if index closes above initial level on any quarterly autocall observation date
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Initial level: | 2,633.08
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Barrier level: | 2,106.46; 80% of initial level
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Knock-in levels: | 2,106.46; 80% of initial level
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Final level: | Average of index closing levels on each of five trading days ending Dec. 20, 2019
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Pricing date: | Dec. 7
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Settlement date: | Dec. 12
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Placement agent: | J.P. Morgan
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Fees: | 1%
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Cusip: | 22551LPK0
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