By Taylor Fox
New York, Dec. 17 – Credit Suisse AG, London Branch priced $2.5 million of contingent coupon autocallable yield notes due Dec. 12, 2022 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Apple Inc., salesforce.com, inc. and the American Depositary Shares of Alibaba Group Holding Ltd.
The notes will pay a monthly contingent coupon at an annual rate of 18.15% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par if each stock closes at or above its initial level on any monthly trigger observation date starting June 8, 2021.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | Apple Inc., salesforce.com, inc. and Alibaba Group Holding Ltd.
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Amount: | $2.5 million
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Maturity: | Dec. 12, 2022
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Coupon: | 18.15% per year, payable monthly if each stock closes at or above its coupon barrier level on related 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 initial level on any monthly trigger observation date starting June 8, 2021
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Initial prices: | $122.25 for Apple, $225.86 for salesforce and $267.25 for Alibaba
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Coupon barriers: | $85.575 for Apple, $158.102 for salesforce and $187.075 for Alibaba; 70% of initial levels
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Knock-in levels: | $85.575 for Apple, $158.102 for salesforce and $187.075 for Alibaba; 70% of initial levels
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Pricing date: | Dec. 8
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Settlement date: | Dec. 11
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.65%
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Cusip: | 22552WXD2
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