New York, July 21 – Credit Suisse AG, London Branch priced $4.25 million of contingent coupon autocallable yield notes due July 20, 2020 linked to the lowest performing of the common stocks of Apple Inc., Microsoft Corp. and Nvidia Corp. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 20.85% if each stock closes above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes above its initial level on any quarterly call observation date.
The payout at maturity will be par plus unless any stock finishes below its 70% knock-in level, in which case investors will be fully exposed to the loss of the least-performing stock.
Credit Suisse is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Apple Inc., Microsoft Corp. and Nvidia Corp.
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| Amount: | $4.25 million
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| Maturity: | July 20, 2020
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| Coupon: | 20.85% per year, payable quarterly if each stock closes at or above its barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus unless any stock finishes below its knock-in level, in which case full exposure to loss of least-performing stock
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| Call option: | Automatically if each stock closes at or above its initial level on any quarterly call observation date
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| Initial prices: | $147.77 for Apple, $71.77 for Microsoft, $160.63 for Nvidia
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| Coupon barriers/knock-in levels: | $103.439 for Apple, $50.239 for Microsoft, $112.441 for Nvidia; 70% of initial levels
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| Pricing date: | July 13
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| Settlement date: | July 20
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| Agent: | Credit Suisse
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| Fees: | 2%
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| Cusip: | 22550BC92
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