By Susanna Moon
Chicago, Jan. 19 – Credit Suisse AG, London Branch priced $1.15 million of 7.8% contingent coupon autocallable yield notes due Jan. 26, 2021 linked to Boeing Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 7.8% if the stock closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any observation date.
The payout at maturity will be par unless the stock finishes below its 80% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stock: | Boeing Co. (Symbol: BA)
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Amount: | $1.15 million
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Maturity: | Jan. 26, 2021
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Coupon: | 7.8% annualized, payable quarterly if stock closes at or above 80% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless stock finishes below 80% knock-in level, in which case 1% loss per 1% decline
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Call: | At par if stock closes at or above initial level on any observation date
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Initial share price: | $337.73
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Knock-in price: | $270.184, 80% of initial share price
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Pricing date: | Jan. 19
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Settlement date: | Jan. 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2%
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Cusip: | 22550W6R3
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