New Issue: Credit Suisse sells $5.3 million contingent income autocalls on Kroger

By Wendy Van Sickle

Columbus, Ohio, Aug. 1 – Credit Suisse AG, London Branch priced $5.3 million of contingent income autocallable securities due July 30, 2021 linked to Kroger Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.2% if the stock closes at or above the 75% downside threshold on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above its 95% call level on any determination date after six months.

The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline.

Credit Suisse Securities (USA) LLC is the underwriter.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent income autocallable securities
Underlying stock:	Kroger Co.
Amount:	$5,295,000
Maturity:	July 30, 2021
Coupon:	9.2% annualized, payable each quarter if stock closes at or above downside threshold level on determination date for that quarter
Price:	Par
Payout at maturity:	If stock finishes above downside threshold, par; otherwise, full exposure to decline
Call:	At par plus contingent coupon if stock closes at or above 95% call level on any determination date after six months
Initial share price:	$28.70
Call level:	$27.27, 95% of initial level
Downside threshold:	$21.53, 75% of initial level
Pricing date:	July 27
Settlement date:	Aug. 1
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.5%
Cusip:	22549M889

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