By Susanna Moon
Chicago, Dec. 28 – Credit Suisse AG, London Branch priced $2 million of contingent coupon autocallable yield notes due Jan. 11, 2017 linked to Hilton Worldwide Holdings Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its barrier level, 77% of its initial level, on the observation date for quarter.
The payout at maturity will be par unless the stock finishes below its 77% barrier level, in which case investors will be fully exposed to any losses.
The notes will be called at par if the stock closes at or above its initial level on any review date.
J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Hilton Worldwide Holdings Inc. (Symbol: HLT)
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| Amount: | $2 million
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| Maturity: | Jan. 11, 2017
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| Coupon: | 10% annualized, payable quarterly if stock closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case full exposure to any losses
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| Call: | At par if stock closes at or above its initial level on any review date
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| Initial level: | $22.04
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| Knock-in price: | $16.9708, 77% of initial share price
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 22546VTD8
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