By Sarah Lizee
Olympia, Wash., April 17 – Credit Suisse AG, London Branch, priced $500,000 of contingent coupon autocallable yield notes due Oct. 14, 2022 linked to the common shares of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 50% of the initial share price, on a monthly observation date, the notes will pay a contingent payment for that month at a rate of 16.5% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above 85% of its initial price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par unless the share price finishes below its 50% knock-in level, in which case investors will lose 1% for each 1% decline of the 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 stock: | General Electric Co.
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| Amount: | $500,000
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| Maturity: | Oct. 14, 2022
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| Contingent payment: | 16.5% per year, payable monthly if stock closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless the share price finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock
|
| Call: | Automatically at par plus contingent coupon if the stock closes at or above 85% of its initial price on any quarterly trigger observation date
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| Initial share price: | $7.14
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| Coupon barrier: | $3.57, 50% of initial share price
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| Knock-in level: | $3.57, 50% of initial share price
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| Pricing date: | April 9
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| Settlement date: | April 14
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| Agents: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.5%
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| Cusip: | 22551NY42
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