By Susanna Moon
Chicago, March 8 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Feb. 22, 2019 linked to the least performing of the common stocks of Ford Motor Co. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16.3% if each stock closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any interest payment date.
The payout at maturity will be par unless either stock finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses of the worse performing stock.
Credit Suisse Securities (USA) LLC is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Ford Motor Co. (Symbol: F) and MetLife, Inc. (Symbol: MET)
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| Amount: | $1 million
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| Maturity: | Feb. 22, 2019
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| Coupon: | 16.3% annualized, payable quarterly if each stock closes at or above its 75% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either stock ends below 75% knock-in level, in which full exposure to the losses of worse performing stock
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| Call: | At par if each stock closes at or above its initial level on any review date
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| Initial levels: | $10.61 for Ford, $46.64 for MetLife
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| Barrier levels: | $7.9575 for Ford, $34.98 for MetLife; 75% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Agent: | Credit Suisse Securities (USA) LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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| Fees: | 1.25%
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| Cusip: | 22549JQJ2
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