By Sarah Lizee
Olympia, Wash., Jan. 21 – Credit Suisse AG, London Branch priced $758,000 of contingent coupon autocallable yield notes due July 21, 2022 linked to the common stocks of Workday, Inc. and Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 17.5% per year.
The notes will be called at par plus the contingent coupon if each stock closes at or above its trigger level, 90% of its initial share price, on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless either stock finishes below the 70% knock-in level, in which case investors will lose 1% for each 1% decline of the laggard 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 stocks: | Workday, Inc. and Zoom Video Communications, Inc.
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| Amount: | $758,000
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| Maturity: | July 21, 2022
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| Contingent payment: | 17.5% per year, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below knock-in, in which case investors will lose 1% for each 1% decline of the laggard stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above its 90% trigger level on any quarterly observation date
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| Initial share price: | $179.18 for Workday, $76.94 for Zoom
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| Coupon barrier/knock-in levels: | $125.426 for Workday, $53.858 for Zoom; 70% of initial share prices
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.125%
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| Cusip: | 22551NJE7
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