By Kiku Steinfeld
Chicago, Nov. 29 – Credit Suisse AG, London Branch, priced $725,000 of contingent coupon callable yield notes due Aug. 17, 2023 to the performance of the stock of SVB Financial Group, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 10.35% per year if the stock closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes may be called at par on any quarterly early redemption date.
The payout at maturity will be par unless the stock finishes below its 70% knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | SVB Financial Group
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| Amount: | $725,000
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| Maturity: | Aug. 17, 2023
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| Coupon: | 10.35% per year, payable quarterly if the underlying asset closes at or above its coupon barrier price on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option
|
| Call: | At par on any quarterly early redemption date
|
| Initial price: | $581.73
|
| Coupon barrier/knock-in prices: | $407.211; 70% of initial prices
|
| Pricing date: | Aug. 13
|
| Settlement date: | Aug. 19
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 22550MWA3
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