By Angela McDaniels
Tacoma, Wash., Nov. 8 – Credit Suisse AG, London Branch priced $765,000 of contingent coupon autocallable yield notes due May 3, 2024 linked to the common stock of Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Target stock closes at or above the knock-in level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon that quarter at the rate of 18.222% per year.
The notes will be automatically called at par if Target stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless Target stock finishes below the knock-in level, in which case investors will be exposed to the stock’s decline from its initial share price.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Target Corp.
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| Amount: | $765,000
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| Maturity: | May 3, 2024
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| Coupon: | If Target stock closes at or above knock-in level on quarterly observation date, notes pay contingent coupon that quarter at rate of 18.222% per year
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| Price: | Par
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| Payout at maturity: | Par unless Target stock finishes below knock-in level, in which case exposure to stock’s decline from initial share price
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| Call: | Automatically at par if Target stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $164.25
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| Knock-in level | $114.975, or 70% of initial share price
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22553QNQ6
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