By William Gullotti
Buffalo, N.Y., Aug. 25 – Credit Suisse AG, London Branch priced $2.89 million of 11.2% autocallable yield notes due Aug. 26, 2024 linked to the common stock of Overstock.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par if shares close at or above the initial share price on any quarterly observation date after six months.
The payout at maturity will be par unless the final share price is less than the 60% knock-in level, in which case investors will lose 1% for every 1% decline in share price from the initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable yield notes
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| Underlying stock: | Overstock.com, Inc.
|
| Amount: | $2,887,000
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| Maturity: | Aug. 26, 2024
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| Coupon: | 11.2%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless the final share price is less than knock-in level, in which case investors will be fully exposed to the decline
|
| Call: | At par if shares close at or above the initial share price on any quarterly observation date after six months
|
| Initial share price: | $69.58
|
| Knock-in price: | $41.748; 60% of initial price
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 25
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.35%
|
| Cusip: | 22552XTP8
|
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