By Devika Patel
Knoxville, Tenn., Dec. 20 – Credit Suisse AG priced $3.57 million of autocallable contingent income barrier notes due Dec. 19, 2019 linked to the common stock of Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.76% if the stock closes at or above the barrier level, 75% of the initial level, on the determination date for that quarter.
The notes will be called at par plus the coupon if the stock closes at or above the initial price on any quarterly observation date other than the final one after March 16, 2017.
If the notes are not called and the stock finishes at or above the 75% barrier level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline.
BofA Merrill Lynch is the agent.
| Issuer: | Credit Suisse AG
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| Issue: | Autocallable contingent income barrier notes
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| Underlying stock: | Goldman Sachs Group, Inc.
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| Amount: | $3,567,660
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| Maturity: | Dec. 19, 2019
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| Coupon: | 8.76%, payable quarterly if stock closes at or above barrier level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above 75% barrier level, par plus final coupon; otherwise, 1% loss for each 1% decline
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| Initial level: | 238.90
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| Barrier level: | 179.18, 75% of initial price
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Agent: | BofA Merrill Lynch
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| Fees: | 2.5%
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| Cusip: | 22548T844
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