By Kiku Steinfeld
Chicago, Oct. 13 – Credit Suisse AG, London Branch priced $1.49 million of contingent coupon autocallable yield notes due July 28, 2023 linked to the common stock of Capital One Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 10.35% if the stock closes above its coupon barrier, 80% of its initial level, on the observation date for the period, in which case investors will receive any previously unpaid coupons.
The notes will be called at par if the shares close at or above the initial share price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below their knock-in level, 80% of their initial price, in which case investors be fully exposed to the losses of the stock.
The placement agent is J.P. Morgan Securities LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Capital One Financial Corp.
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| Amount: | $1,487,000
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| Maturity: | July 28, 2023
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| Coupon: | 10.35% annual rate, payable quarterly plus any previously unpaid coupons if stock closes above coupon barrier on observation day for that period
|
| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
|
| Call: | Automatically at par if shares close at or above initial share price on any quarterly trigger observation date
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| Initial level: | $160.08
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| Coupon barrier/knock-in price: | $128.06; 80% of initial share price
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| Pricing date: | July 23
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| Settlement date: | July 30
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| Placement agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
|
| Cusip: | 22552XRL9
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