Chicago, Sept. 16 – Credit Suisse AG, London Branch, priced $637,000 of contingent coupon autocallable yield notes due Jan. 28, 2025 linked to Block, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the 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 period at a rate of 15.2% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly autocall observation date after six months.
If the notes are not called, the payout at maturity will be par if the stock closes at or above its 50% knock-in level. Otherwise, investors will lose 1% for each 1% decline of the stock from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Block, Inc.
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| Amount: | $637,000
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| Maturity: | Jan. 28, 2025
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| Contingent coupon: | 15.2% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if the stock closes at or above its knock-in level; otherwise, investors will lose 1% for each 1% decline of the stock from its initial level
|
| Call: | Automatically at par plus contingent coupon if the stock closes at or above its initial price on any quarterly autocall observation date after six months
|
| Initial share price: | $115.30
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| Coupon barrier level: | $57.65, 50% of initial level
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| Knock-in level: | $57.65, 50% of initial level
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
|
| Cusip: | 22553PG78
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