By Kiku Steinfeld
Chicago, Nov. 21– Credit Suisse AG, London Branch priced $1.06 million of contingent coupon autocallable yield notes due March 24, 2025 linked to the stock performance of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annualized rate of 15.9% if the stock closes above its coupon barrier, 50% of its initial level, on the observation date for the period, plus any previously unpaid contingent coupons.
The notes will be called at par if the shares close at or above the initial share price on any quarterly trigger observation date after six months.
If the notes are not called, the payout at maturity will be par unless the shares finish below their knock-in level, 50% of their initial price, in which case investors be fully exposed to the losses of the stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Tesla, Inc.
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| Amount: | $1,055,000
|
| Maturity: | March 24, 2025
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| Coupon: | 15.9% annual rate, payable quarterly if stock closes above coupon barrier on observation day for that period, plus any previously unpaid contingent coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
|
| Call: | Automatically at par if shares close at or above initial share price on any quarterly trigger observation date after six months
|
| Initial level: | $905.39
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| Coupon barrier/knock-in price: | $452.695 50% of initial share price
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| Pricing date: | March 18
|
| Settlement date: | March 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0%
|
| Cusip: | 22553PP60
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