New Issue: Credit Suisse prices $700,000 buffered contingent coupon autocallable yield notes on Wynn

By Kiku Steinfeld

Chicago, July 30 – Credit Suisse AG, London Branch priced $700,000 of buffered contingent coupon autocallable yield notes due July 29, 2020 linked to the ordinary shares of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

If Wynn stock closes at or above the coupon barrier level, 69% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at the rate of 10% per year for that quarter and all prior unpaid contingent coupons, if any.

The notes will be automatically called at par if Wynn stock closes at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless Wynn stock finishes below the buffer level, in which case investors will lose 1% for every 1% that Wynn stock declines beyond 31%, to be delivered either as a number of shares rounded down to the nearest whole number plus any fractional shares in cash, or at the issuer’s option, the cash value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Buffered contingent coupon autocallable yield notes
Underlying stock:	Wynn Resorts, Ltd.
Amount:	$700,000
Maturity:	July 29, 2020
Coupon:	If stock closes at or above buffer level on quarterly observation date, notes pay contingent coupon at rate of 10% per year for that quarter and all prior unpaid contingent coupons, if any
Price:	Par
Payout at maturity:	Par unless stock finishes below buffer level, in which case investors will lose 1% for every 1% that Wynn stock declines beyond 31%, to be delivered either as a number of shares rounded down to the nearest whole number plus any fractional shares in cash, or at the issuer’s option, the cash value of those shares.
Call:	Automatically at par if stock closes at or above initial share price on any quarterly observation date
Initial share price:	$133.89
Buffer level:	$92.38, 69% of initial share price
Coupon barrier level:	$92.38, 69% of initial share price
Pricing date:	July 15
Settlement date:	July 18
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1%
Cusip:	22549JU57

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