Chicago, June 17 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due June 13, 2023 linked to the stock performance of Macy’s, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annualized rate of 22.2% 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 autocall observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below its knock-in level, 60% of their initial price, at any point during the life of the notes.
If the stock has closed below the knock-in level at any point, investors will be exposed to the final value of the stock with a cap of par.
The agent is Incapital LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Macy’s, Inc.
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| Amount: | $1,000,000
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| Maturity: | June 13, 2023
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| Coupon: | 22.2% annual rate, payable monthly if stock closes above coupon barrier on observation day for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below knock-in level at any point during life of notes, in which case investors will be exposed to the return of the index capped at par
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| Call: | Automatically at par plus coupon if shares close at or above initial share price on any quarterly autocall observation date after six months
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| Initial level: | $27.34
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| Coupon barrier: | $19.138; 70% of initial share price
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| Knock-in price: | $16.404; 60% of initial share price
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| Pricing date: | Dec. 8, 2021
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| Settlement date: | Dec. 13, 2021
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| Agent: | Incapital LLC
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| Fees: | 2.75%
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| Cusip: | 22553PBT5
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