By Sarah Lizee
Olympia, Wash., Feb. 10 – Credit Suisse AG, London Branch priced $558,000 of contingent coupon autocallable reverse convertible securities due April 30, 2021 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annual rate of 12% if the stock closes at or above its 75% knock-in level on a quarterly observation date.
The notes will be called at par if the shares close at or above the initial share price on any quarterly trigger observation date after six months.
The payout at maturity will be par unless the shares close below the knock-in level on any day during the life of the notes, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC and Incapital LLC are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible securities
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| Underlying stock: | Ford Motor Co.
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| Amount: | $558,000
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| Maturity: | April 30, 2021
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| Coupon: | 12% payable quarterly if the stock closes at or above its knock-in level on a quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the shares close below the knock-in level on any day during the life of the notes, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares
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| Call: | At par if shares close at or above initial share price on any quarterly trigger observation date after six months
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| Initial level: | $8.97
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| Knock-in price: | $6.7275, 75% of initial share price
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Agents: | Credit Suisse Securities (USA) LLC and Incapital LLC
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| Fees: | 2.25%
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| Cusip: | 22549J4X5
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