By Kiku Steinfeld
Chicago, June 13 – Credit Suisse AG, London Branch priced $480,000 of contingent coupon autocallable yield notes due Nov. 22, 2024 linked to the stock performance of DXC Technology Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 13.94% if the stock closes above its coupon barrier, 75% 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.
If the notes are not called and the stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the stock finishes below its coupon barrier but at or above its knock-in level, 75% of initial price, the payout will be par. Otherwise, investors will be fully exposed to the losses of the stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | DXC Technology Co.
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| Amount: | $480,000
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| Maturity: | Nov. 22, 2024
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| Coupon: | 13.94% annual rate, payable quarterly if stock closes above coupon barrier on observation day for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if stock finishes at or above coupon barrier; if stock finishes below coupon barrier but not below knock-in level, par; otherwise, investors will lose 1% for each 1% decline of the stock from its initial level
|
| Call: | Automatically at par plus coupon if shares close at or above initial share price on any quarterly trigger observation date
|
| Initial level: | $31.37
|
| Coupon barrier: | $23.5275; 75% of initial share price
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| Knock-in price: | $23.5275; 75% of initial share price
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| Pricing date: | Nov. 19, 2021
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| Settlement date: | Nov. 24, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.75%
|
| Cusip: | 22553P4R7
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