By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Credit Suisse AG, London Branch priced $1.69 million of contingent income autocallable securities due Oct. 17, 2019 linked to Anadarko Petroleum Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.05% if the underlying stock closes at or above its 80% downside threshold on the related quarterly determination date.
The notes will be called at par if the stock closes at or above the initial level on any quarterly determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying asset: | Anadarko Petroleum Corp.
|
| Amount: | $1,686,700
|
| Maturity: | Oct. 17, 2019
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| Coupon: | 13.05% annualized, payable quarterly if stock closes at or above downside threshold on related quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call: | At par if stock closes at or above initial level on any quarterly determination date other than the final date
|
| Initial price: | $67.63
|
| Downside threshold: | $54.10, 80% of initial price
|
| Pricing date: | Oct. 12
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| Settlement date: | Oct. 17
|
| Agent: | Credit Suisse Securities (USA) LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 1.75%
|
| Cusip: | 22549R516
|
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