New Issue: CS sells $512,000 contingent coupon autocallable notes with upper threshold on stocks

By Kiku Steinfeld

Chicago, March 3 – Credit Suisse AG, London Branch priced $512,000 of contingent coupon autocallable yield notes with upper threshold feature due Sept. 16, 2024 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The stocks are Intellia Therapeutics, Inc., ACM Research, Inc. and Fate Therapeutics, Inc.

The notes will pay a quarterly contingent coupon at an annual rate of 7.25% if each stock closes at or above its coupon barrier, 50% of its initial level, on the corresponding observation date, in which case any previously unpaid coupons will also be paid.

The notes will be called at par if each stock closes at or above 70% of its initial level on any quarterly observation date.

The payout at maturity will be par unless every stock declines and any stock declines by more than half of its initial value, 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
Issue:	Contingent coupon autocallable yield notes with upper threshold feature
Underlying stocks:	Intellia Therapeutics, Inc., ACM Research, Inc. and Fate Therapeutics, Inc.
Amount:	$512,000
Maturity:	Sept. 16, 2024
Coupon:	7.25% per year, payable quarterly plus any previously unpaid coupons if each stock closes at or above its coupon barrier level on corresponding observation date
Price:	Par
Payout at maturity:	Par unless every stock finishes below its 100% upper threshold level and any stock finishes below its 50% knock-in level, in which case full exposure to the losses of the least-performing stock
Call:	Automatically at par if each stock closes at or above 70% of its initial level on any quarterly observation date
Initial levels:	$160.67 for Intellia, $107.13 for ACM, $68.43 for Fate
Upper threshold levels:	$160.67 for Intellia, $107.13 for ACM, $68.43 for Fate
Coupon barriers:	$80.335 for Intellia, $53.565 for ACM, $34.215 for Fate; 50% of initial levels
Knock-in levels:	$80.335 for Intellia, $53.565 for ACM, $34.215 for Fate; 50% of initial levels
Pricing date:	Sept. 10
Settlement date:	Sept. 15
Agent:	Credit Suisse Securities (USA) LLC
Fees:	3%
Cusip:	22552XVE0

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