By Cady Vishniac
Detroit, Jan. 12 – Credit Suisse AG, London Branch priced $2.25 million of contingent coupon autocallable yield notes due Dec. 29, 2023 linked to the common shares of Cisco Systems, Inc., Intel Corp. and salesforce.com, inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 16.4% if each stock closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes will be called at par plus the coupon due if each stock closes at or above its initial price on any quarterly observation date after six months.
The payout at maturity will be par unless any stock finishes below its knock-in price, 70% of its initial price, in which case investors will be fully exposed to the decline of the least-performing stock.
Credit Suisse Securities (USA) LLC 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: | Cisco Systems, Inc. (Symbol: CSCO UW), Intel Corp. (Symbol: INTC UW) and salesforce.com, inc. (Symbol: CRM UN)
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| Amount: $2.25 million
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| Maturity: | Dec. 29, 2023
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| Coupon: | 16.4% per year, payable quarterly if each stock closes at or above its coupon barrier price on the related observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless any stock finishes below its knock-in price, in which case full exposure to decline of least-performing stock
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| Call: | At par plus the coupon due if each stock closes at or above its initial price on any quarterly observation date after six months
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| Initial prices: | $44.92 for Cisco, $47.07 for Intel and $224.64 for salesforce.com
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| Knock-in/coupon barrier prices: | $31.444 for Cisco, $32.949 for Intel and $157.248 for salesforce.com; 70% of initial prices
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.35%
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| Cusip: | 22552WZW8
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