By Taylor Fox
New York, Nov. 16 – Credit Suisse AG, London Branch priced $1.68 million of contingent coupon autocallable yield notes due Oct. 19, 2022 linked to the common stock of Goldman Sachs Group, Inc.
The notes will pay a quarterly contingent coupon at an annual 10% rate if the stock closes at or above its coupon barrier, 72.5% of its initial level, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly trigger observation date starting Jan. 15.
The payout at maturity will be par unless the stock finishes below its 72.5% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is J.P. Morgan Securities LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Goldman Sachs Group, Inc.
|
| Amount: | $1,675,000
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| Maturity: | Oct. 19, 2022
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| Coupon: | 10% annual rate, payable quarterly if the stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its knock-in level, in which case full exposure to the losses
|
| Call: | Automatically at par if the stock closes at or above initial level on any quarterly trigger observation date starting Jan. 15
|
| Initial price: | $206.21
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| Coupon barrier: | $149.50; 72.5% of initial levels
|
| Knock-in level: | $149.50; 72.5% of initial levels
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 22552WQ40
|
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