By Wendy Van Sickle
Columbus, Ohio, July 5 – Credit Suisse AG, London Branch priced $3.87 million of buffered contingent coupon autocallable yield notes due July 15, 2020 linked to the class A common stock of Dish Network, Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the buffer level, 65% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at the rate of 16% per year for that quarter and all prior unpaid contingent coupons, if any.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below the buffer level, in which case investors will lose 1.53846% for every 1% that the stock declines beyond 35%.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered contingent coupon autocallable yield notes
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| Underlying stock: | Dish Network, Corp.
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| Amount: | $3.87 million
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| Maturity: | July 15, 2020
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| Coupon: | 16%, payable quarterly if stock closes at or above buffer level on observation date, in which event all prior unpaid contingent coupons, if any, will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below buffer level, in which case 1.53846% loss for every 1% that stock declines beyond 35%
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| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $38.41
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| Buffer level: | $24.97, 65% of initial share price
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 22552FLW0
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