By Susanna Moon
Chicago, June 6 – Credit Suisse AG, London Branch priced $6 million of contingent coupon autocallable yield notes due June 12, 2019 linked to Nvidia Corp. 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 10% if the underlying stock closes at or above its 59.75% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any review date.
The payout at maturity will be par unless the stock closes below its 59.75% knock-in level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying assets: | Nvidia Corp. (Symbol: NVDA)
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| Amount: | $5,999,000
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| Maturity: | June 12, 2019
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| Coupon: | 10% annualized, payable quarterly if stock closes at or above 59.75% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock closes below 59.75% knock-in level, in which case 1% loss per 1% decline
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| Call: | At par if asset closes at or above its initial level on any review date
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| Initial level: | $249.28
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| Barrier level: | $148.94, 59.75% of initial level
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| Pricing date: | May 25
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| Settlement date: | May 30
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 22550WVD6
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