By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – Credit Suisse AG, London Branch priced $1.05 million of buffered contingent coupon autocallable yield notes due Nov. 18, 2020 linked to the common stock of ServiceNow, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If ServiceNow stock closes at or above the buffer level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at the rate of 14.35% per year for that quarter and all prior unpaid contingent coupons, if any.
The notes will be automatically called at par if ServiceNow stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless ServiceNow stock finishes below the buffer level, in which case investors will lose 1.25% for every 1% that ServiceNow stock declines beyond 20%.
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: | ServiceNow, Inc.
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| Amount: | $1.05 million
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| Maturity: | Nov. 18, 2020
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| Coupon: | If stock closes at or above buffer level on quarterly observation date, notes pay contingent coupon at rate of 14.35% per year for that quarter and all prior unpaid contingent coupons, if any
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below buffer level, in which case 1.25% loss for every 1% that stock declines beyond 20%
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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: | $249.95
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| Buffer level: | $199.96, 80% of initial share price
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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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: | 22549J3D0
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