By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Credit Suisse AG, London Branch priced $4.16 million of autocallable yield notes due Dec. 29, 2023 linked to the stocks of Costco Wholesale Corp. and Ulta Beauty, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at a rate of 12% year.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly trigger observation date beginning June 24.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Costco Wholesale Corp. and Ulta Beauty, Inc.
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| Amount: | $4.16 million
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| Maturity: | Dec. 29, 2023
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| Coupon: | 12% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case full exposure to the losses of the least performing stock
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| Call: | Notes will be automatically called at par plus the coupon if each stock closes at or above initial level on any quarterly trigger observation date beginning June 24
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| Initial prices: | $361.89 for Costco and $268.46 for Ulta Beauty
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| Knock-in levels: | $217.314 for Costco and $161.076 for Ulta Beauty; 60% of initial prices
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.35%
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| Cusip: | 22552WZK4
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