By Sarah Lizee
Olympia, Wash., Dec. 30 – Credit Suisse AG, London Branch priced $525,000 of contingent coupon autocallable yield notes due June 27, 2022 linked to the common stocks of Beyond Meat, Inc. and Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the coupon barrier level, 50% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 28.25% per year.
The notes will be called at par plus the contingent coupon if each stock closes at or above its trigger level, 85% 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 50% 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
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Beyond Meat, Inc. and Peloton Interactive, Inc.
|
| Amount: | $525,000
|
| Maturity: | June 27, 2022
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| Contingent payment: | 28.25% per year, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| 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
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above its trigger level on any quarterly observation date
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| Initial share price: | $77.74 for Beyond Meat, $29.22 for Peloton
|
| Coupon barrier/knock-in levels: | $38.87 for Beyond Meat, $14.61 for Peloton; 50% of initial share prices
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 27
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.125%
|
| Cusip: | 22551NEP7
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