By William Gullotti
Buffalo, N.Y., March 18 – Credit Suisse AG, London Branch priced $1.55 million of contingent coupon autocallable yield notes due March 18, 2027 linked to the least performing of the stocks of BlackRock, Inc. and Blackstone Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.85% if each stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly trigger observation date after one year.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | BlackRock, Inc., Blackstone Group Inc.
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| Amount: | $1.55 million
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| Maturity: | March 18, 2027
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| Coupon: | 10.85% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any stock finishes below its knock-in level, in which case full exposure to decline of the least-performing stock from its initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly trigger observation date after one year
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| Initial levels: | $731.11 for BlackRock, $116.05 for Blackstone
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| Coupon barriers: | $365.555 for BlackRock, $58.025 for Blackstone; 50% of initial levels
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| Knock-in levels: | $365.555 for BlackRock, $58.025 for Blackstone; 50% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 18
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.35%
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| Cusip: | 22553PNZ8
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