Chicago, Oct. 25 – Credit Suisse AG, London Branch priced $645,000 of 6.6% autocallable reverse convertible securities due March 27, 2023 linked to the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be automatically called if the closing share price is equal to or greater than the initial price on any monthly observation date after six months.
The payout at maturity will be par unless the stock finishes below the knock-in price, 79% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the initial share price or, at the issuer's option, the value of those shares in cash.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | Home Depot, Inc.
|
| Amount: | $645,000
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| Maturity: | March 27, 2023
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| Coupon: | 6.6% annual rate, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in price, in which case full exposure to loss of stock payable in shares or cash at issuer’s election
|
| Call: | At par if closing share price on any monthly observation date after six months is at or above initial share price
|
| Initial level: | $316.17
|
| Knock-in level: | $249.7743, 79% of initial share price
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.15%
|
| Cusip: | 22550MYZ6
|
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