By Taylor Fox
New York, Feb. 1 – Credit Suisse AG, London Branch priced $1.44 million of contingent coupon autocallable yield notes due July 5, 2023 linked to the least performing of the common stocks of Boeing Co. and Delta Air Lines, 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 15.75% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par if each stock closes at or above 85% of its initial level, on any quarterly trigger observation date starting March 30.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | Boeing Co. and Delta Air Lines, Inc.
|
| Amount: | $1,441,000
|
| Maturity: | July 5, 2023
|
| Coupon: | 15.75% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above 85% of its initial level on any quarterly trigger observation date starting March 30
|
| Initial prices: | $216.25 for Boeing and $40.03 for Delta
|
| Trigger levels: | $183.8125 for Boeing and $34.0255 for Delta, 85% of initial levels
|
| Coupon barrier levels: | $151.375 for Boeing and $28.021 for Delta; 70% of initial levels
|
| Knock-in levels: | $151.375 for Boeing and $28.021 for Delta; 70% of initial levels
|
| Pricing date: | Dec. 29
|
| Settlement date: | Dec. 31
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.25%
|
| Cusip: | 22552WYJ8
|
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