By Kiku Steinfeld
Chicago, June 25 – Credit Suisse AG, London Branch priced $1.65 million of contingent coupon autocallable yield notes due June 15, 2026 linked to the least performing of the common stocks of Apple Inc., B&G Foods, Inc. and McCormick & Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Contingent coupons are payable monthly at an annual rate of 8.45% if each stock closes at or above its coupon barrier, 55% of its initial level, on the related observation date.
The notes will be called at par plus the coupon if the shares of the least performing stock close at or above their initial price on any quarterly trigger observation date after one year.
The payout at maturity will be par plus the coupon unless any of the stocks finishes below its 55% knock-in level, in which case investors will be fully exposed to the losses of the worst performing underlying.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stocks: | State Street Corp., Caterpillar Inc. and McCormick & Co., Inc.
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| Amount: | $1.65 million
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| Maturity: | June 15, 2026
|
| Coupon: | 8.45% per year, payable monthly if each stock closes above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any stock finishes below knock-in price, in which case full exposure to losses of worst performing underlying
|
| Call: | At par if all stocks close at or above initial share prices on any quarterly trigger observation date after one year
|
| Initial prices: | $126.11 for Apple, $32.75 for B&G Foods and $88.74 for McCormick
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| Coupon barriers: | $69.3605 for Apple, $18.0125 for B&G Foods and $48.807 for McCormick; 55% of initial levels
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| Knock-in levels: | $69.3605 for Apple, $18.0125 for B&G Foods and $48.807 for McCormick; 55% of initial levels
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
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| Cusip: | 22552XMX8
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