By William Gullotti
Buffalo, N.Y., July 19 – Credit Suisse AG, London Branch priced $2.5 million of 12.95% autocallable reverse convertible securities due July 19, 2023 linked to the class A common stock of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price on any monthly trigger observation date after three months.
The payout at maturity will be par unless the shares finish below the knock-in level, 60% of the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable reverse convertible securities
|
| Underlying stock: | Meta Platforms, Inc.
|
| Amount: | $2,497,000
|
| Maturity: | July 19, 2023
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| Coupon: | 12.95% payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the shares finish below the knock-in level, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares
|
| Call: | At par if shares close at or above initial share price on any monthly trigger observation date after three months
|
| Initial level: | $158.05
|
| Knock-in price: | $94.83; 60% of initial level
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| Pricing date: | July 14
|
| Settlement date: | July 19
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 22550ME54
|
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