By Susanna Moon
Chicago, March 7 – Credit Suisse AG, London Branch priced $3.64 million of contingent income autocallable securities due March 4, 2020 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its barrier level, 80% of its initial share price, on the observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any observation date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 80% barrier level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the distributor.
| Issuer: | Credit Suisse AG
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Facebook, Inc. (Symbol: FB)
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| Amount: | $3,639,650
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| Maturity: | March 4, 2020
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| Coupon: | 8% per year, payable quarterly if Facebook shares close at or above barrier level on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above barrier level, par plus final contingent coupon; otherwise, 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any determination date other than the final date
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| Initial level: | $135.54
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| Knock-in price: | $108.43, 80% of initial share price
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22549A448
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