By William Gullotti
Buffalo, N.Y., Aug. 11 – Credit Suisse AG, London Branch, priced $530,000 of contingent coupon callable yield notes due June 19, 2023 to the performance of the stock of Western Digital Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 9.85% per year if the stock closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.
The notes may be called at par on any quarterly redemption date after six months.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 60% 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
|
| Underlying stock: | Western Digital Corp.
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| Amount: | $530,000
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| Maturity: | June 19, 2023
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| Coupon: | 9.85% 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 plus the final coupon 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 redemption date after six months
|
| Initial price: | $74.71
|
| Coupon barrier/knock-in prices: | $44.826; 60% of initial prices
|
| Pricing date: | June 14
|
| Settlement date: | June 17
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22550MTW9
|
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