By Marisa Wong
Morgantown, W.Va., March 23 – Credit Suisse AG, London Branch priced $1.4 million of contingent coupon autocallable yield notes due March 23, 2017 linked to Twitter, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent monthly coupon at an annual rate of 18.1% if the stock closes at or above its barrier level, 50% of its initial level, on the observation date for month.
The payout at maturity will be par unless the stock finishes at or below its 50% knock-in level, in which case investors will be fully exposed to any losses.
The notes will be called at par if the stock closes at or above its initial level on any monthly observation date beginning June 20.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Twitter, Inc. (Symbol: TWTR)
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| Amount: | $1.4 million
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| Maturity: | March 23, 2017
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| Coupon: | 18.1% annualized, payable monthly if stock closes at or above barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes at or below knock-in level, in which case full exposure to any losses
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| Call: | At par if stock closes at or above its initial level on any monthly observation date beginning June 20
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| Initial level: | $16.85
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| Barrier/knock-in price: | $8.425, 50% of initial share price
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.44%
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| Cusip: | 22546VYZ3
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