By Wendy Van Sickle
Columbus, Ohio, Sept. 5 – Credit Suisse AG, London Branch, priced $805,000 of contingent coupon autocallable yield notes due March 4, 2022 linked to Wayfair Inc. class A common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 50% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 15.35% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above 90% of its initial price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par unless the share price finishes below the 50% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Wayfair Inc.
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| Amount: | $805,000
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| Maturity: | March 4, 2022
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| Contingent payment: | 15.35% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarterly
|
| Price: | Par
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| Payout at maturity: | Par unless the share price finishes below 50% knock-in, in which case investors will lose 1% for each 1% decline of the stock
|
| Call: | Automatically at par plus contingent coupon if the stock closes at or above 90% of its initial price on any quarterly trigger observation date
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| Initial share price: | $113.92
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| Coupon barrier/knock-in price: | $56.96, 50% of initial share price
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| Pricing date: | Aug. 29
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| Settlement date: | Sept. 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
|
| Cusip: | 22552FTW2
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