By Taylor Fox
New York, Jan. 19 – Credit Suisse AG, London Branch priced $4.73 million of contingent coupon autocallable yield notes due Dec. 29, 2023 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are United Rentals, Inc., Kroger Co. and PayPal Holdings, Inc.
The notes will pay a monthly contingent coupon at an annual rate of 11.35% if each stock closes at or above its coupon barrier, 55% of its initial level, on the observation date for that month.
The notes will be called at par if each stock closes at or above its trigger level, 100% of the initial level, on any quarterly trigger observation date starting June 24.
The payout at maturity will be par unless any stock finishes below its 55% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is InCapital LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | United Rentals, Inc., Kroger Co. and PayPal Holdings, Inc.
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Amount: | $4,731,000
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Maturity: | Dec. 29, 2023
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Coupon: | 11.35% per year, payable monthly if each stock closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
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Call: | Automatically at par if each stock closes at or above trigger level on any quarterly trigger observation date starting June 24
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Initial prices: | $230.93 for United Rentals, $31.39 for Kroger and $239.44 for PayPal
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Coupon barrier levels: | $127.0115 for United Rentals, $17.2645 for Kroger and $131.692 for PayPal; 55% of initial levels
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Knock-in levels: | $127.0115 for United Rentals, $17.2645 for Kroger and $131.692 for PayPal; 55% of initial levels
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Agent: | InCapital LLC
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Fees: | 3.5%
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Cusip: | 22552WV77
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