By Tali Rackner
Minneapolis, May 2 – Credit Suisse AG, London Branch priced $1.89 million of contingent coupon callable yield notes due April 23, 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 quarterly coupon at an annualized rate of 10.25% if the stock closes at or above its barrier level, 70% of its initial level, on a quarterly observation date.
The notes may be called on any quarterly call observation date beginning July 24.
The payout at maturity will be par unless the stock finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | Facebook, Inc. (Symbol: FB)
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| Amount: | $1,892,000
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| Maturity: | April 23, 2020
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| Coupon: | 10.25% per year, payable quarterly if stock closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to any losses
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| Call option: | At par on any quarterly call observation date beginning July 24
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| Initial price: | $168.10
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| Barrier/knock-in level: | $117.67; 70% of initial price
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| Pricing date: | April 19
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| Settlement date: | April 23
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22550WQ34
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