New Issue: Credit Suisse prices $5.45 million contingent income autocalls on two stocks

By Wendy Van Sickle

Columbus, Ohio, March 17 – Credit Suisse AG, London Branch priced $5.45 million of autocallable contingent income securities due Sept. 9, 2022 linked to the common stocks of McDonald’s Corp. and Nike, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 14% per year if each stock closes at or above its coupon barrier, 75% of its initial share price, on a related observation date.

The notes will be automatically called at par of $10 plus the contingent coupon if both stocks close at or above their initial share prices on any quarterly observation date other than the final observation date.

If the notes are not called and each stock finishes at or above its downside threshold level, 75% of its initial level, the payout at maturity will be par plus the final contingent coupon. If either stock finishes below its downside threshold level, investors will lose 1% for every 1% that the lesser-performing stock declines from its initial share price.

Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable contingent income securities
Underlying stocks:	McDonald’s Corp. and Nike, Inc.
Amount:	$5,445,000
Maturity:	Sept. 9, 2022
Coupon:	14% per year, payable quarterly if stocks close at or above coupon barrier on related observation date
Price:	Par of $10
Payout at maturity:	If each stock finishes at or above downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that lesser-performing stock declines from initial share price
Call:	Automatically at par plus contingent coupon if each stock closes at or above initial share price on any quarterly observation date other than the final one
Initial share prices:	$198.86 for McDonald’s, $88.36 for Nike
Coupon barriers:	$149.75 for McDonald’s, $66.27 for Nike, 75% of initial share price
Downside thresholds:	$149.75 for McDonald’s, $66.27 for Nike, 75% of initial share price
Pricing date:	March 6
Settlement date:	March 11
Agent:	Credit Suisse Securities (USA) Inc.
Distributor:	Morgan Stanley Smith Barney LLC
Fees:	2.5%
Cusip:	22550V323

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