By Wendy Van Sickle
Columbus, Ohio, June 15 – Credit Suisse AG, London Branch priced $499,000 of contingent coupon autocallable reverse convertible securities due May 20, 2024 linked to the common stock of Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is contingently payable quarterly at an annual rate of 12.45% if the stock closes at or above its 60% coupon barrier level on a quarterly observation date.
The notes will be called at par if the shares close at or above the initial share price on any quarterly trigger observation date.
The payout at maturity will be par unless the shares finish below the knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable reverse convertible securities
|
| Underlying stock: | Zillow Group, Inc.
|
| Amount: | $499,000
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| Maturity: | May 20, 2024
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| Coupon: | 12.45% payable quarterly if the stock closes at or above its coupon barrier level on a related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in price, in which case a number of shares equal to $1,000 divided by the initial share price
|
| Call: | At par if shares close at or above initial share price on any quarterly trigger observation date
|
| Initial level: | $113.32
|
| Coupon barrier level: | $67.992, 60% of initial level
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| Knock-in price: | $67.992, 60% of initial level
|
| Pricing date: | May 17
|
| Settlement date: | May 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22552XLM3
|
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