By Taylor Fox
New York, Feb. 22 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due Aug. 16, 2023 linked to the common stock of eHealth, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual 20% rate if the 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 if the stock closes at or above 85% of its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless the 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 stock: | eHealth, Inc.
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Amount: | $500,000
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Maturity: | Aug. 16, 2023
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Coupon: | 20% annual rate, payable quarterly if the stock closes at or above its coupon barrier level on the related observation date
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its knock-in level, in which case full exposure to the losses
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Call: | Automatically at par if the stock closes at or above 85% of initial level on any quarterly trigger observation date
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Initial price: | $58.69
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Trigger level: | $49.8865, 85% of initial level
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Coupon barrier: | $29.345; 50% of initial level
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Knock-in level: | $29.345; 50% of initial level
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Pricing date: | Feb. 10
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Settlement date: | Feb. 16
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22552XBT9
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