By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – Credit Suisse AG, London Branch priced $2.59 million of contingent coupon autocallable yield notes due Oct. 31, 2024 linked to the lowest performing of the Euro Stoxx Banks index and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 10.2% if each underlier closes at or above its coupon barrier level, 75% of its initial level, on a quarterly observation date.
The notes will be called automatically at par plus the coupon if each underlier closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless any underlier finishes below its 75% knock-in level, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
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 assets: | Euro Stoxx Banks index, Financial Select Sector SPDR fund
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| Amount: | $2,587,000
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| Maturity: | Oct. 31, 2024
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| Coupon: | 10.2% per year, payable quarterly if each underlier closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlier finishes below its knock-in level, in which case lose 1% for every 1% decline of worst performer from its initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above its initial level on any quarterly observation date
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| Initial levels: | $40.60 for ETF, 103.47 for Stoxx Banks
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| Coupon barrier/knock-in levels: | $30.45 for ETF, 77.6025 for Stoxx Banks; 75% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 29
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22552XYQ0
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