By Sarah Lizee
Olympia, Wash., Sept. 20 – Credit Suisse AG, London Branch, priced $1.01 million of contingent coupon autocallable yield notes due March 21, 2022 linked to Okta, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 60% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 12.75% 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 60% 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
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Okta, Inc.
|
| Amount: | $1.01 million
|
| Maturity: | March 21, 2022
|
| Contingent payment: | 12.75% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the share price finishes below 60% 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 its call level on any quarterly trigger observation date
|
| Initial share price: | $105.66
|
| Call level: | $95.094, 90% of its initial level
|
| Coupon barrier/knock-in price: | $63.396, 60% of initial share price
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 20
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 22552FX49
|
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