By Devika Patel
Knoxville, Tenn., Feb. 1 – Credit Suisse AG, London Branch, priced $930,000 of contingent coupon autocallable yield notes due Feb. 22, 2017 linked to Home Depot, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Home Depot stock closes at or above the coupon barrier level, about 77.5% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that period at a rate of 10% per year.
If the closing share price is greater than or equal to the initial share price on any quarterly observation date beginning on May 12, 2016, the notes will be automatically redeemed at par plus the contingent payment.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the 77.5% knock-in price, in which case investors will be exposed to the stock’s decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Home Depot, Inc. (Symbol: HD)
|
| Amount: | $930,000
|
| Maturity: | Feb. 22, 2017
|
| Contingent payment: | 10% per year, payable quarterly if Home Depot stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless share price finishes below 77.5% knock-in price, in which case exposure to decline
|
| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any quarterly observation date beginning May 12, 2016
|
| Initial share price: | $125.76
|
| Coupon barrier/knock-in price: | $97.46, 77.5% of initial share price
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 2
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 22546VVQ6
|
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