New Issue: Credit Suisse sells $693,000 contingent coupon autocallables tied to stocks

By Tali Rackner

Minneapolis, Jan. 18 – Credit Suisse AG, London Branch priced $693,000 of contingent coupon autocallable yield notes due Jan. 21, 2020 linked to the least performing of the common stock of Morgan Stanley, the capital stock of International Business Machines Corp. and the common stock of TripAdvisor, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 20.15% if each underlying stock closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.

The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date from July 13, 2018 through Oct. 15, 2019.

The payout at maturity will be par unless any stock finishes below its knock-in level, 70% of the initial level, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Contingent coupon autocallable yield notes
Underlying stocks:	Morgan Stanley (Symbol: MS), International Business Machines Corp. (Symbol IBM) and TripAdvisor, Inc. (Symbol: TRIP)
Amount:	$693,000
Maturity:	Jan. 21, 2020
Coupon:	20.15% per year, payable quarterly if each stock closes at or above its barrier level on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless any stock finishes below knock-in level, in which case full exposure to the losses of the least-performing stock
Call:	Automatically if each stock closes at or above initial level on any quarterly trigger observation date from July 13, 2018 through Oct. 15, 2019
Initial prices:	$55.12 for Morgan Stanley, $114.198 for IBM and $36.54 for TripAdvisor
Barrier/knock-in prices:	$38.584 for Morgan Stanley, $114.198 for IBM and $25.578 for TripAdvisor; 70% of initial levels
Pricing date:	Jan. 12
Settlement date:	Jan. 18
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.85%
Cusip:	22550W5Z6

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