By Susanna Moon
Chicago, April 20 – Credit Suisse AG, London Branch priced $1 million of contingent coupon callable yield notes due April 21, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay quarterly coupon at an annualized rate of 7.05% if the index closes above its barrier level, 50% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par unless the index finishes below its barrier, in which case investors will be exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | April 21, 2031
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| Coupon: | 7.05% annualized, payable quarterly if index closes at or above barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless index finishes below barrier level, in which case full exposure to index decline
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| Call option: | At par on coupon payment date
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| Initial level: | 2,094.34
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| Barrier level: | 1,047.17, 50% of initial level
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22548Q4J1
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