By Marisa Wong
Madison, Wis., Feb. 10 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Feb. 10, 2020 linked to the common shares of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 4.85% per year if General Electric shares close at or above the coupon barrier price, 85% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the knock-in price, 85% of the initial share price, the payout will be par. Otherwise, investors will receive a number of shares of General Electric stock equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying shares: | General Electric Co. (Symbol: GE)
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| Amount: | $1 million
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| Maturity: | Feb. 10, 2020
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| Coupon: | Each quarter, notes pay coupon at rate of 4.85% per year if General Electric shares close at or above coupon barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to knock-in price, par; otherwise, 40.783 General Electric shares
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| Call: | Automatically at par if shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $24.52
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| Coupon barrier price: | $20.842, 85% of initial share price
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| Knock-in price: | $20.842, 85% of initial share price
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 10
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA (placement)
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| Fees: | 3%
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| Cusip: | 22546V4Z6
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