By Susanna Moon
Chicago, March 13 – Credit Suisse AG, London Branch priced $100,000 of contingent coupon autocallable yield notes due Feb. 28, 2024 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7% if each underlying asset closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each asset closes at or above its initial level on any review date.
The payout at maturity will be par unless either asset falls by more than 20%, in which case investors will be exposed to any losses of the worse performing fund or index beyond the buffer.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying assets: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
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| Amount: | $100,000
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| Maturity: | Feb. 28, 2024
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| Coupon: | 7% annualized, payable monthly if each asset closes at or above its 80% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either asset falls by more than 20%, in which case 1% loss per 1% decline of worse performing index or fund beyond 20%
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| Call: | At par if each asset closes at or above its initial level on any review date
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| Initial levels: | $49.72 for fund and 3,441.46 for Stoxx
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| Coupon barriers: | $39.776 for fund and 2753.168 for Stoxx; 80% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Incapital LLC
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| Fees: | 3.75%
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| Cusip: | 22550WCN5
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