By Sarah Lizee
Olympia, Wash., April 16 – Credit Suisse AG, London Branch priced $3.84 million of autocallable contingent income securities due April 17, 2020 linked to the Euro Stoxx Banks index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10% if the index closes at or above its 75% coupon barrier on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly call review date.
The payout at maturity will be par plus the final coupon unless the index finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses of the index.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Euro Stoxx Banks
|
| Amount: | $3,839,000
|
| Maturity: | April 17, 2020
|
| Coupon: | 10% annualized, payable quarterly if index closes at or above coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline of index
|
| Call: | At par plus coupon if the index closes at or above its initial level on any quarterly determination date
|
| Initial level: | 101.02
|
| Coupon barrier: | 75.77; 75% of initial level
|
| Downside threshold: | 75.77; 75% of initial level
|
| Pricing date: | April 12
|
| Settlement date: | April 17
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 1.75%
|
| Cusip: | 22552F7K2
|
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