By Sarah Lizee
Olympia, Wash., June 16 – Credit Suisse AG, London Branch priced $750,000 of contingent coupon autocallable yield notes due Dec. 16, 2022 linked to the common stocks of American Express Co. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 9% per year.
The notes will be called at par plus the contingent coupon if each stock closes at or above 90% of its initial share price on any quarterly observation date other than the final observation date.
If the notes are not called, the payout at maturity will be par unless either stock finishes below the 70% knock-in level, in which case investors will lose 1% for each 1% decline of the laggard stock.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | American Express Co. and Visa Inc.
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Amount: | $750,000
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Maturity: | Dec. 16, 2022
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Contingent payment: | 9% per year, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either stock finishes below knock-in, in which case investors will lose 1% for each 1% decline of laggard stock
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Call: | Automatically at par plus contingent coupon if each stock closes at or above 85% of its initial level on any quarterly observation date other than final observation date
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Initial share price: | $98.60 for American Express, $188.88 for Visa
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Call levels: | $88.74 for American Express, $169.992 for Visa, 90% of initial share prices
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Coupon barrier/knock-in levels: | $69.02 for American Express, $132.216 for Visa; 70% of initial share prices
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22552W6M2
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