By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Credit Suisse AG, London Branch priced $659,000 of contingent coupon autocallable yield notes due Dec. 14, 2023 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier price, 75% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at a rate of 10.18% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above its trigger price, 100% of its initial price, on any quarterly trigger observation date other than the final one.
If the notes are not called, the payout at maturity will be par unless the share price finishes below the 75% knock-in price, in which case investors will lose 1% for each 1% decline of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Facebook, Inc.
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| Amount: | $659,000
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| Maturity: | Dec. 14, 2023
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| Contingent coupon: | 10.18% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of stock
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly observation date other than final one
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| Initial price: | $273.55
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| Coupon barrier price: | $205.1625, 75% of initial price
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| Knock-in price: | $205.1625, 75% of initial price
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| Pricing date: | Dec. 11
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| Settlement date: | Dec. 16
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22552WXJ9
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