By Wendy Van Sickle
Columbus, Ohio, May 11 – Credit Suisse AG, London Branch priced $10 million of buffered contingent coupon autocallable yield notes due May 11, 2022 linked to the common stock of Alnylam Pharmaceuticals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 80% of the initial share price, on a monthly observation date, the notes will pay a contingent coupon at the rate of 14.75% per year for that month and all prior unpaid contingent coupons, if any.
The notes will be automatically called at par if the stock closes at or above the initial share price on any monthly observation date.
The payout at maturity will be par unless the stock finishes below the 80% buffer level, in which case investors will lose 1.25% for every 1% that the stock declines beyond 20%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered contingent coupon autocallable yield notes
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| Underlying stock: | Alnylam Pharmaceuticals, Inc.
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| Amount: | $10 million
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| Maturity: | May 11, 2022
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| Coupon: | If stock closes at or above buffer level on monthly observation date, notes pay contingent coupon at rate of 14.75% per year for that month and all prior unpaid contingent coupons, if any
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below buffer level, in which case investors will lose 1.25% for every 1% that stock declines beyond 20%
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| Call: | Automatically at par if stock closes at or above initial share price on any monthly observation date
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| Initial share price: | $132.67
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| Buffer level: | $106.14, 80% of initial share price
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| Coupon barrier level: | $106.14, 80% of initial share price
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| Pricing date: | May 6
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| Settlement date: | May 11
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0.2%
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| Cusip: | 22552XKU6
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