By William Gullotti
Buffalo, N.Y., May 16 – Credit Suisse AG, London Branch, priced $1.06 million of contingent coupon callable yield notes due Oct. 10, 2023 to the performance of the stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 13.25% per year if the stock closes at or above its coupon barrier price, 70% of its initial price, on the related observation date.
The notes may be called at par plus any coupon otherwise due on any quarterly early redemption date after six months.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 70% knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option.
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: | Ford Motor Co.
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| Amount: | $1.06 million
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| Maturity: | Oct. 10, 2023
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| Coupon: | 13.25% per year, payable quarterly if the underlying stock closes at or above its coupon barrier price on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the stock finishes below its knock-in price, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option
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| Call: | At par plus any coupon otherwise due on any quarterly early redemption date after six months
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| Initial price: | $14.35
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| Coupon barrier/knock-in prices: | $10.045; 70% of initial prices
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| Pricing date: | Oct. 4, 2021
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| Settlement date: | Oct. 7, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22550MCU1
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