By Wendy Van Sickle
Columbus, Ohio, March 21 – Credit Suisse AG, London Branch priced $800,000 of contingent coupon autocallable yield notes due April 3, 2019 linked to the ordinary shares of Broadcom Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter the notes will pay a contingent coupon at an annual rate of 10% if the stock closes at or above the coupon barrier, 64.75% of the initial level, for that quarter.
The notes will be called at par plus the contingent coupon if stock closes at or above its initial price on a quarterly trigger observation date.
The payout at maturity will be par unless the shares close below the 64.75% knock-in level, in which case investors will receive a number of Broadcom shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
J.P. Morgan is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Broadcom Ltd.
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| Amount: | $800,000
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| Maturity: | April 3, 2019
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| Contingent payment: | 10% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless stock falls below knock-in level, in which case a number of Broadcom shares equal to $1,000 divided by the initial share price
|
| Call: | Automatically at par plus contingent payment if stock closes at or above trigger level on a quarterly trigger observation date
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| Initial price: | $254.87
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| Coupon barrier/knock-in level: | $165.03, 64.75% of initial level
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| Pricing date: | March 16
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| Settlement date: | March 21
|
| Agent: | J.P. Morgan
|
| Fees: | 1%
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| Cusip: | 22550WL88
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