Chicago, April 16 – Credit Suisse AG, London Branch priced $4.76 million of contingent income autocallable securities due Sept. 16, 2021 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent coupon at an annual rate of 12% based on the stock closing above the 60% coupon barrier level on month observation dates.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any monthly determination date other than the final determination date.
If the final share price is greater than or equal to the 60% downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be exposed to the decline of the stock.
Credit Suisse Securities (USA) LLC is the agent and Morgan Stanley Wealth Management is the dealer.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Hess Corp.
|
| Amount: | $4,764,000
|
| Maturity: | Sept. 16, 2021
|
| Coupon: | 12% annual rate, payable monthly if stock closes at or above coupon barrier level on the observation date for that period
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, investors will be exposed to the decline of the stock
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any monthly determination date other than final determination date
|
| Initial share price: | $72.49
|
| Coupon barrier level: | $43.49, 60% of initial level
|
| Downside threshold: | $43.49, 60% of initial level
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.25%
|
| Cusip: | 22551F673
|
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