By Kiku Steinfeld
Chicago, July 22 – Credit Suisse AG, London Branch priced $3.05 million of contingent coupon autocallable yield notes due May 31, 2024 linked to the least performing of the common stocks of Cisco Systems, Inc. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.12% if each stock closes at or above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 75% knock-in level, in which case investors will be fully exposed to the 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: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Cisco Systems, Inc. and Intel Corp.
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| Amount: | $3,053,000
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| Maturity: | May 31, 2024
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| Coupon: | 10.12% per year, payable quarterly if each stock closes at or above its coupon barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial level on any quarterly trigger observation date
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| Initial prices: | $52.90 for Cisco, $57.12 for Intel
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| Coupon barrier/knock-in levels: | $39.675 for Cisco, $42.84 for Intel; 75% of initial levels
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| Pricing date: | May 28
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| Settlement date: | June 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22552XM34
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