New Issue: Credit Suisse sells $500,000 buffered contingent coupon autocallable yield notes on Zoom

By Kiku Steinfeld

Chicago, March 23 – Credit Suisse AG, London Branch priced $500,000 of buffered contingent coupon autocallable yield notes due March 30, 2022 linked to the ordinary shares of Zoom Video Communications, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If Zoom stock closes at or above the coupon barrier level, 63% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at the rate of 12% per year for that quarter and all prior unpaid contingent coupons, if any.

The notes will be automatically called at par of $10,000 if Zoom stock closes at or above the initial share price on any quarterly observation date.

The payout at maturity will be par unless Zoom stock finishes below the buffer level, in which case investors will lose 1.5873% for every 1% that Zoom stock declines beyond 37%, to be delivered either as a number of shares rounded down to the nearest whole number plus any fractional shares in cash, or at the issuer’s option, the cash value of those shares.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Buffered contingent coupon autocallable yield notes
Underlying stock:	Zoom Video Communications, Inc.
Amount:	$500,000
Maturity:	March 30, 2022
Coupon:	If stock closes at or above buffer level on quarterly observation date, notes pay contingent coupon at rate of 12% per year for that quarter and all prior unpaid contingent coupons, if any
Price:	Par of $10,000
Payout at maturity:	Par unless stock finishes below buffer level, in which case investors will lose 1.5873% for every 1% that Zoom stock declines beyond 37%, to be delivered either as a number of shares rounded down to the nearest whole number plus any fractional shares in cash, or at the issuer’s option, the cash value of those shares.
Call:	Automatically at par if stock closes at or above initial share price on any quarterly observation date
Initial share price:	$342.11
Buffer level:	$215.53, 63% of initial share price
Coupon barrier level:	$215.53, 63% of initial share price
Pricing date:	March 11
Settlement date:	March 15
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1%
Cusip:	22550MRY7

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