By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Credit Suisse AG, London Branch priced $891,000 of contingent coupon autocallable reverse convertible securities due Feb. 15, 2019 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 8% if the stock closes above its knock-in price, 70% of the initial price, on the observation date for that month.
The notes will be automatically called at par if the shares close at or above the initial share price any monthly observation date after one year.
The payout at maturity will be par unless the shares finish below the knock-in price, in which case investors will receive a number of Bank of America shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC and Incapital LLC are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $891,000
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| Maturity: | Feb. 15, 2019
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| Coupon: | 8%, payable monthly if shares close above knock-in level on observation date for the month
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| Price: | Par
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| Payout at maturity: | Par unless Bank of America stock finishes knock-in price, in which case a number of Apple shares equal to $1,000 divided by the initial share price
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| Call: | At par if Bank of America shares close at or above initial share price on any monthly observation date after one year
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| Initial level: | $23.12
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| Knock-in price: | $16.184, 70% of initial share price
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | Credit Suisse Securities (USA) LLC and Incapital LLC
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| Fees: | 2.44%
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| Cusip: | 22549JEM8
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