By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Credit Suisse AG, London Branch priced $1.78 million of contingent coupon autocallable yield notes due Jan. 31, 2025 linked to the common stocks of Caterpillar Inc. and Deere & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the coupon barrier level, 60% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 9% per year.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial price, on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless either stock finishes below the 60% 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
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Caterpillar Inc. and Deere & Co.
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| Amount: | $1.78 million
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| Maturity: | Jan. 31, 2025
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| Contingent payment: | 9% per year, payable quarterly if each stock 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 either stock finishes below knock-in, in which case investors will lose 1% for each 1% decline of the laggard stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above its initial level on any quarterly observation date after six months
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| Initial share price: | $135.78 for Caterpillar, $160.16 for Deere
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| Coupon barrier/knock-in levels: | $81.468 for Caterpillar, $96.096 for Deere; 60% of initial share prices
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.35%
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| Cusip: | 22551NKH8
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