Chicago, Dec. 7 – Credit Suisse AG, London Branch, priced $1 million of contingent coupon autocallable yield notes due Jan. 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the coupon barrier level, 60% of the initial index, on a monthly observation date, the notes will pay a contingent payment for that month at a rate of 5.5% per year.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any monthly trigger observation date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below the 60% knock-in level, in which case investors will lose 1% for each 1% decline of the index.
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 index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | Jan. 4, 2024
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| Contingent payment: | 5.5% per year, payable monthly if index closes at or above coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below 60% knock-in, in which case investors will lose 1% for each 1% decline of the index
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| Call: | Automatically at par plus contingent coupon if the index closes at or above its initial level on any monthly trigger observation date after one year
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| Initial index: | 4602.45
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| Coupon barrier: | 2761.47, 60% of initial index level
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| Knock-in level: | 2761.47, 60% of initial index level
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| Pricing date: | March 30
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| Settlement date: | April 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.7%
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| Cusip: | 22553PQ77
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