By Taylor Fox
New York, Dec. 17 – Credit Suisse AG, London Branch priced $600,000 of contingent coupon autocallable yield notes due June 12, 2023 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Activision Blizzard, Inc., Electronic Arts Inc. and Take-Two Interactive Software, Inc.
The notes will pay a quarterly contingent coupon at an annual rate of 11% if each stock closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par if each stock closes at or above 90% of its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless any stock finishes below its 70% knock-in level, in which case investors will be fully exposed to the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stocks: | Activision Blizzard, Inc., Electronic Arts Inc. and Take-Two Interactive Software, Inc.
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Amount: | $600,000
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Maturity: | June 12, 2023
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Coupon: | 11% per year, payable quarterly if each stock closes at or above its coupon barrier level on related observation date
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case full exposure to the losses of the least-performing stock
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Call: | Automatically at par if each stock closes at or above 90% of initial level on any quarterly trigger observation date
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Initial prices: | $83.63 for Activision, $132.15 for Electronic and $183.60 for Take-Two
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Coupon barriers: | $58.541 for Activision, $92.505 for Electronic and $128.52 for Take-Two; 70% of initial levels
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Knock-in levels: | $58.541 for Activision, $92.505 for Electronic and $128.52 for Take-Two; 70% of initial levels
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Pricing date: | Dec. 8
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Settlement date: | Dec. 11
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22552WX91
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