By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – Credit Suisse AG, London Branch priced $1.6 million of contingent coupon callable yield notes due Aug. 6, 2020 linked to the class P common stock of Kinder Morgan, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9.25% if the stock closes at or above its barrier level, 75% of its initial level, on a quarterly observation date.
The notes may be called on any quarterly call observation date.
The payout at maturity will be par unless the stock finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | Kinder Morgan, Inc.
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| Amount: | $1,603,000
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| Maturity: | Aug. 6, 2020
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| Coupon: | 9.25% per year, payable quarterly if stock closes at or above its barrier level on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to any losses
|
| Call option: | At par on any quarterly call observation date
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| Initial price: | $17.68
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| Barrier/knock-in level: | $13.26; 75% of initial price
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| Pricing date: | Aug. 2
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| Settlement date: | Aug. 7
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22551L3K4
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