By Sarah Lizee
Olympia, Wash., Feb. 12 – Credit Suisse AG, London Branch priced $1.13 million of contingent coupon autocallable yield notes due Aug. 5, 2022 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underliers are Anthem, Inc., Humana Inc. and UnitedHealth Group Inc.
Contingent coupons are payable quarterly at an annual rate of 9.85% if each stock closes above its coupon barrier, 70% of its initial level, on the related observation date.
The notes will be called at par plus the coupon if the shares of the least performing stock close at or above 95% of their initial price on any quarterly trigger observation date.
The payout at maturity will be par plus the coupon unless any of the stocks finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the worst performing underlying.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Anthem, Inc., Humana Inc. and UnitedHealth Group Inc.
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| Amount: | $1,134,000
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| Maturity: | Aug. 5, 2022
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| Coupon: | 9.85% per year, payable quarterly if each stock closes above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any stock finishes below knock-in price, in which case full exposure to losses of worst performing underlying
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| Call: | At par if all shares close at or above 95% of initial share price on any quarterly trigger observation date
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| Initial prices: | $265.28 for Anthem, $336.24 for Humana and $272.45 for UnitedHealth
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| Call levels: | $252.016 for Anthem, $319.428 for Humana and $258.8275 for UnitedHealth; 95% of initial levels
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| Coupon barriers: | $185.696 for Anthem, $185.696 for Humana and $190.715 for UnitedHealth; 70% of initial levels
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| Knock-in levels: | $185.696 for Anthem, $185.696 for Humana and $190.715 for UnitedHealth; 70% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22551NK88
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