By William Gullotti
Buffalo, N.Y., Feb. 24 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon autocallable yield notes due April 29, 2024 linked to the common stock of C3.ai, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 18% if the stock closes above its coupon barrier, 50% of its initial level, on the observation date for the period.
The notes will be called at par plus coupon if the shares close at or above the trigger level, 85% of initial share price, on any quarterly trigger observation date starting after six months.
If the notes are not called, the payout at maturity will be par unless the shares finish below their knock-in level, 50% of their initial price, in which case investors be fully exposed to the losses of the stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | C3.ai, Inc.
|
| Amount: | $500,000
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| Maturity: | April 29, 2024
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| Coupon: | 18% annual rate, payable quarterly if stock closes above coupon barrier on observation day for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock
|
| Call: | At par plus coupon if shares close at or above the 85% trigger level on any quarterly trigger observation date after six months
|
| Initial level: | $67.16
|
| Coupon barrier/knock-in price: | $33.58; 50% of initial share price
|
| Trigger level: | $57.086; 85% of initial share price
|
| Pricing date: | April 22, 2021
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| Settlement date: | April 27, 2021
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.75%
|
| Cusip: | 22552XJT1
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