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Published on 1/16/2020 in the Prospect News Structured Products Daily.

New Issue: Credit Suisse sells $5 million contingent coupon autocallable yield notes on Lincoln National

By Wendy Van Sickle

Columbus, Ohio, Jan. 16 – Credit Suisse AG, London Branch, priced $5 million of contingent coupon autocallable yield notes due July 19, 2021 linked to Lincoln National Corp. common shares, according to a 424B2 filing with the Securities and Exchange Commission.

If the stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 8.35% per year.

The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly trigger observation date after six months.

If the notes are not called, the payout at maturity will be par unless the share price finishes below the 70% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.

InCapital LLC is the agent.

Issuer:Credit Suisse AG, London Branch
Issue:Contingent coupon autocallable yield notes
Underlying stock:Lincoln National Corp.
Amount:$5 million
Maturity:July 19, 2021
Contingent payment:8.35% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarterly
Price:Par
Payout at maturity:Par unless the share price finishes below 70% knock-in, in which case investors will lose 1% for each 1% decline of the stock
Call:Automatically at par plus contingent coupon if the stock closes at or above its initial price on any quarterly trigger observation date after six months
Initial share price:$59.22
Coupon barrier/knock-in price:$41.454, 70% of initial share price
Pricing date:Jan. 14
Settlement date:Jan. 17
Agent:InCapital LLC
Fees:1.75%
Cusip:22551NJ56

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