By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Credit Suisse AG, London Branch priced $1.18 million of 20.58% autocallable reverse convertible securities due Dec. 16, 2021 linked to the least performing of the shares of CrowdStrike Holdings, Inc., Snowflake Inc. and Lemonade, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares of the least performing stock close at or above its initial price on any monthly observation date after three months.
If the notes are not called, the payout at maturity will be par unless any of the stocks finish below its 55% knock-in level, in which case investors will receive a number of shares of the least performing stock 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
|
| Issue: | Autocallable reverse convertible securities
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| Underlying stocks: | CrowdStrike Holdings Inc., Snowflake Inc. and Lemonade, Inc.
|
| Amount: | $1.18 million
|
| Maturity: | Dec. 16, 2021
|
| Coupon: | 20.58% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in price, in which case shares of least performing stock equal to $1,000 divided by initial share price or amount in cash equal to value of those shares
|
| Call: | At par if shares close at or above initial share price on any monthly observation date after three months
|
| Initial prices: | $173.80 for CrowdStrike, $92.00 for Lemonade and $329.15 for Snowflake
|
| Knock-in levels: | $95.59 for CrowdStrike, $50.60 for Lemonade and $181.0325 for Snowflake; 55% of initial levels
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.875%
|
| Cusip: | 22550MMU0
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