By Marisa Wong
Morgantown, W.Va., April 5 – Credit Suisse AG, London Branch priced $600,000 of contingent coupon autocallable yield notes due March 30, 2018 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at a rate of 9% per year if Facebook stock closes at or above its barrier level, 85% of the initial price, on the observation date for that month.
The payout at maturity will be par unless the stock finishes at or below its knock-in level, 85% of the initial price, in which case investors will be fully exposed to the decline.
The notes will be automatically called at par if the stock closes at or above its initial level on any quarterly observation date.
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. (Nasdaq: FB)
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| Amount: | $600,000
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| Maturity: | March 30, 2018
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| Coupon: | Each quarter, notes pay coupon at rate of 9% per year if Facebook shares close at or above barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than knock-in price, par plus coupon; otherwise, full exposure to stock’s decline
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| Call: | Automatically at par plus coupon if shares close at or above initial share price on any quarterly observation date
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| Initial share price: | $113.69
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| Knock-in/barrier price: | $96.6365, 85% of initial share price
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| Pricing date: | March 28
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| Settlement date: | March 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22546VZL3
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