By Wendy Van Sickle
Columbus, Ohio, Dec. 13 – Credit Suisse AG, London Branch priced $6.45 million of autocallable contingent income securities due June 11, 2020 linked to the common stock of Bed Bath & Beyond Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 23.25% per year if the stock closes at or above its downside threshold level, 50% of its initial share price, on the observation date for that month.
The notes will be automatically called at par of $10 if the stock closes at or above its initial share price on any monthly observation date.
If the stock finishes at or above the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial share price.
Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable contingent income securities
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| Underlying stock: | Bed Bath & Beyond Inc.
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| Amount: | $6,449,850
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| Maturity: | June 11, 2020
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| Coupon: | 23.25% per year, payable monthly if stock closes at or above downside threshold level on observation date for that month
|
| Price: | Par of $10.00
|
| Payout at maturity: | If stock finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that stock declines from initial share price
|
| Call: | Automatically at par if stock closes at or above initial share price on any monthly observation date
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| Initial share price: | $14.77
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| Downside threshold: | $7.39, 50% of initial share price
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 11
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| Agent: | Credit Suisse Securities (USA) Inc.
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| Distributor: | Morgan Stanley Smith Barney LLC
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| Fees: | 2.25%
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| Cusip: | 22550K715
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