By Tali Rackner
Norfolk, Va., Oct. 14 – Credit Suisse AG, London Branch priced $1.07 million of contingent coupon autocallable yield notes due Oct. 16, 2017 linked to the common stock of Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon of 9.25% annualized if Bristol-Myers stock closes at or above the barrier level, 80% of the initial share price, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above the initial share price on April 11, 2017 or July 11, 2017.
The payout at maturity will be par unless Bristol-Myers stock finishes below the 80% knock-in level, in which case the payout will be a number of Bristol-Myers shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
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 stock: | Bristol-Myers Squibb Co. (Symbol: BMY)
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| Amount: | $1,066,000
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| Maturity: | Oct. 16, 2017
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| Contingent payment: | 9.25% per year, payable quarterly if Bristol-Myers 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 stock finishes below knock-in level, in which case a number of Bristol-Myers shares equal to $1,000 divided by the initial share price or equal cash value
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| Call: | Automatically at par plus contingent payment if stock closes above initial share price on April 11, 2017 or July 11, 2017
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| Initial share price: | $49.55
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| Coupon barrier/knock-in level: | $39.64, 80% of initial level
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 14
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.1%
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| Cusip: | 22549JCK4
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