By Susanna Moon
Chicago, April 4 – Credit Suisse AG, London Branch priced $833,000 of contingent coupon autocallable reverse convertible notes due July 2, 2019 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.75% if the underlying asset closes at or above its 60% coupon barrier on the observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 60% knock-in level any day during the life of the notes, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible notes
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| Underlying stock: | Nvidia Corp. (Symbol: NVDA)
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| Amount: | $833,000
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| Maturity: | July 2, 2019
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| Contingent coupon: | 11.75% annualized, payable monthly if asset closes at or above its 60% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below initial level and ever closes at or below barrier during life of notes, in which case a number of shares equal to $1,000 divided by the initial share price
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| Call: | At par plus the coupon if stock closes at or above initial share price on any quarterly observation date beginning Aug. 30, 2018
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| Initial price: | $221.35
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| Barrier price: | $132.81, 60% of initial price
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| Pricing date: | March 28
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| Settlement date: | April 2
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 22549JA26
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