By William Gullotti
Buffalo, N.Y., Feb. 28 – Credit Suisse AG, London Branch priced $1.1 million of contingent coupon autocallable yield notes due April 29, 2024 linked to the common stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 8% if the stock closes above its coupon barrier, 70% of its initial level, on the observation date for the period.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on any quarterly trigger observation date after six months.
If the notes are not called, the payout at maturity will be par unless the stock finishes below their knock-in level, 70% of their initial price, in which case investors be fully exposed to the losses of the stock.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stock: | Intel Corp.
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Amount: | $1,100,000
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Maturity: | April 29, 2024
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Coupon: | 8% annual rate, payable quarterly if stock closes above coupon barrier on observation day for that period
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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 initial level
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Call: | At par plus coupon if shares close at or above initial share price on any quarterly trigger observation date after six months
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Initial level: | $58.76
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Coupon barrier/knock-in price: | $41.132; 70% of initial share price
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Pricing date: | April 27, 2021
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Settlement date: | April 29, 2021
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.85%
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Cusip: | 22552XK44
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