By Susanna Moon
Chicago, March 7 – Credit Suisse AG, London Branch priced $840,000 of contingent coupon autocallable yield notes due March 5, 2018 linked to the least performing of the common stock of Nvidia Corp. and the class A common stock of Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 12.05% if each stock closes above its 70% coupon barrier on the observation date for that month.
The notes will be called at par plus interest if each stock closes at or above its initial level on any observation date.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses of the worse performing 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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| Underliers: | Nvidia Corp. (Symbol: NVDA) and Visa Inc. (Symbol: V)
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| Amount: | $840,000
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| Maturity: | March 5, 2018
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| Coupon: | 12.05% per year, payable monthly if each stock closes at or above its 70% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below barrier price, in which case a number of shares of the worse performing stock equal to $1,000 divided by the initial share price
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| Call: | At par plus contingent coupon if each stock closes at or above its initial price on any observation date beginning in May
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| Initial levels: | $101.48 for Nvidia and $87.94 for Visa
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| Knock-in levels: | $71.036 for Nvidia and $61.558 for Visa; 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.875%
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| Cusip: | 22549JEX4
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