By Marisa Wong
Madison, Wis., March 13 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due March 13, 2020 linked to Wynn Resorts, Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if Wynn Resorts shares close at or above the barrier level, 70% of the initial share price, on the observation date for that quarter.
The notes will be called at par if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the stock finishes at or above the 70% barrier level, the payout will be par.
Otherwise, investors will receive a number of Wynn Resorts shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying shares: | Wynn Resorts, Ltd. (Symbol: WYNN)
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| Amount: | $1 million
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| Maturity: | March 13, 2020
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| Coupon: | 12% annualized, payable each quarter that Wynn Resorts shares close at or above coupon barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above barrier level, par; otherwise, a number of Wynn Resorts shares equal to $1,000 divided by initial share price
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| Call: | At par if shares close at or above initial share price on any quarterly observation date
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| Initial price: | $129.51
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| Barrier price: | $90.657, 70% of initial price
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| Pricing date: | March 10
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| Settlement date: | March 13
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA (placement)
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| Fees: | 3%
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| Cusip: | 22546V7A8
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