By Marisa Wong
Morgantown, W.Va., Sept. 21 – Credit Suisse AG, London Branch priced $3.32 million of contingent coupon autocallable yield notes due Sept. 27, 2017 linked to the common stock of Gilead Sciences, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 15.03% if Gilead stock closes at or above the barrier level, 80% of the initial share price, on the observation date for that quarter.
The notes will be called at par if Gilead stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless Gilead stock finishes below the barrier level, in which case investors will have one-to-one exposure to the stock’s decline from its initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Gilead Sciences, Inc. (Symbol: GILD)
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| Amount: | $3,315,000
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| Maturity: | Sept. 27, 2017
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| Contingent payment: | 15.03% per year, payable quarterly if Gilead stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless share price finishes below knock-in price, in which case exposure to decline
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| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any quarterly observation date
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| Initial share price: | $78.05
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| Coupon barrier/knock-in price: | $62.44, 80% of initial share price
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 14
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22548QH73
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