By Cady Vishniac
Detroit, Jan. 12 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Dec. 30, 2022 linked to the common shares of FedEx Corp., the class A common stock of Visa Inc. and the common stock of Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annualized rate of 15% if each stock closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.
The notes will be called at par plus the coupon due if each stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its knock-in price, 60% of its initial price, in which case investors will be fully exposed to the decline of the least-performing 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 stocks: | FedEx Corp. (Symbol: FDX UN), Visa Inc. (Symbol: V UN) and Walgreens Boots Alliance, Inc. (Symbol: WBA UW)
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| Amount: $1 million
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| Maturity: | Dec. 30, 2022
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| Coupon: | 15% per year, payable monthly if each stock closes at or above its coupon barrier price on the related observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless any stock finishes below its knock-in price, in which case full exposure to decline of least-performing stock
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| Call: | At par plus the coupon due if each stock closes at or above its initial price on any quarterly observation date
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| Initial prices: | $262.94 for FedEx, $212.63 for Visa and $39.66 for Walgreens
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| Knock-in/coupon barrier prices: | $157.764 for FedEx, $127.578 for Visa and $23.796 for Walgreens; 60% of initial prices
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| Strike date: | Dec. 28
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| Pricing date: | Dec. 29
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| Settlement date: | Dec. 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1%
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| Cusip: | 22552X2D4
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