By Taylor Fox
New York, Oct. 26 – Credit Suisse AG, London Branch priced $750,000 of contingent coupon autocallable yield notes due March 27, 2023 linked to the least performing of the common shares of American Express Co. and the common stock of PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 10.5% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above 90% of its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses 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: | American Express Co. and PayPal Holdings, Inc.
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| Amount: | $750,000
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| Maturity: | March 27, 2023
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| Coupon: | 10.5% per year, payable quarterly if each stock closes at or above its coupon barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in level, in which full exposure to the losses of the least performing stock
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| Call: | Automatically at par if each stock closes at or above 90% of its initial level on any quarterly trigger observation date
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| Initial prices: | $98.48 for American Express and $187.78 for PayPal
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| Coupon barriers: | $68.936 for American Express and $131.446 for PayPal; 70% of initial levels
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| Knock-in levels: | $68.936 for American Express and $131.446 for PayPal; 70% of initial levels
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| Call levels: | $88.632 for American Express and $169.002 for PayPal; 90% of initial levels
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 25
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.25%
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| Cusip: | 22552WMF9
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