By Wendy Van Sickle
Columbus, Ohio, Aug. 12 – Credit Suisse AG, London Branch, priced $4.35 million of contingent coupon autocallable yield notes due Aug. 24, 2020 linked to Walt Disney Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 80.5% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for quarter at a rate of 10% per year, plus any previously unpaid coupon.
If the closing share price is greater than or equal to the initial share price on any quarterly observation date, the notes will be automatically redeemed at par plus the contingent payment.
If the notes are not called, the payout at maturity will be par unless the share price finishes below the 80.5% knock-in price, in which case investors will lose 1% for each 1% decline of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Walt Disney Co.
|
| Amount: | $4,345,000
|
| Maturity: | Aug. 24, 2020
|
| Contingent payment: | 10% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter, in which case a coupon will also be paid for any previous quarter for which no coupon was paid because the stock closed below barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par, unless share price finishes below the 80.5% knock-in price, in which case 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any quarterly observation date
|
| Initial share price: | $134.86
|
| Coupon barrier/knock-in price: | $108.56, 80.5% of initial share price
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 12
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 22552FSV5
|
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