By Wendy Van Sickle
Columbus, Ohio, March 29 – Credit Suisse AG priced $4.05 million of contingent income autocallable securities due March 27, 2020 linked to the common stock of Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the stock closes at or above its barrier level, 80% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any observation date beginning June 26.
If the stock finishes at or above its barrier level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the stock’s decline from its initial share price.
Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is acting as distributor.
| Issuer: | Credit Suisse AG
|
| Issue: | Contingent income autocallable securities
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| Underlying stock | : | Goldman Sachs Group, Inc.
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| Amount: | $4,045,640
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| Maturity: | March 27, 2020
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| Coupon: | 8% per year, payable quarterly if Goldman Sachs shares close at or above barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if Goldman Sachs shares close at or above initial share price on any determination date beginning June 26
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| Initial share price: | $228.41
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| Barrier: | $182.73, 80% of initial share price
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Distributor: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 22549A562
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