By Wendy Van Sickle
Columbus, Ohio, July 12 – Credit Suisse AG, London Branch priced $2.64 million contingent income securities due Jan. 10, 2019 linked to the ordinary shares of Deutsche Bank AG, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a coupon at the rate of 5% per year if the shares close at or above the barrier level, 50% of the initial level, on the observation date for that month.
If the stock finishes at or above the knock-in level, 50% of its initial level, the payout at maturity will be par plus the final coupon, if applicable. If the stock finishes below the knock-in level, investors will be fully exposed to its decline from its initial level.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Wealth Management is acting as distributor.
| Issuer: | Credit Suisse AG
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| Issue: | Contingent income securities
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| Underlying shares: | Deutsche Bank AG
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| Amount: | $2,635,000
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| Maturity: | Jan. 10, 2019
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| Coupon: | 5% per year, payable each month that stock closes at or above barrier level on observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if stock finishes at or above knock-in level; otherwise, full exposure to any decline
|
| Initial levels: | $11.46
|
| Barrier/knock-in level: | $5.73, 50% of initial level
|
| Pricing date: | July 6
|
| Settlement date: | July 11
|
| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley & Co. LLC handling distribution
|
| Fees: | 1.25%
|
| Cusip: | 22549M798
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