By Taylor Fox
New York, Feb. 1 – Credit Suisse AG, London Branch priced $1.33 million of contingent coupon autocallable yield notes due June 30, 2023 linked to the least performing of the common stocks of DocuSign, Inc. and Splunk Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 17% 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 90% of its initial level, the trigger level, on any quarterly trigger observation date starting March 26.
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: | DocuSign, Inc. and Splunk Inc.
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Amount: | $1,325,000
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Maturity: | June 30, 2023
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Coupon: | 17% per year, payable quarterly if each stock closes at or above its coupon barrier level on 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 90% of its initial level on any quarterly trigger observation date starting March 26
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Initial prices: | $229.20 for DocuSign and $175.55 for Splunk
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Trigger levels: | $206.28 for DocuSign and $157.995 for Splunk, 90% of initial levels
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Coupon barrier levels: | $160.44 for DocuSign and $122.885 for Splunk; 70% of initial levels
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Knock-in levels: | $160.44 for DocuSign and $122.885 for Splunk; 70% of initial levels
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Pricing date: | Dec. 28
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Settlement date: | Dec. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22552WYY5
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