By Wendy Van Sickle
Columbus, Ohio, July 2 – Credit Suisse AG, London Branch priced $5.26 million of autocallable contingent income securities due July 8, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 11% per year if the index closes at or above its downside threshold level, 70% of its initial share price, on the observation date that quarter.
The notes will be automatically called at par of $10 if the index closes at or above its initial share price on any quarterly observation date.
If the index finishes at or above the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines from its initial share price.
Credit Suisse Securities (USA) Inc. is the agent. Morgan Stanley Smith Barney LLC is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable contingent income securities
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| Underlying index: | Russell 2000 index
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| Amount: | $5,262,000
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| Maturity: | July 8, 2021
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| Coupon: | 11% per year, payable quarterly if index closes at or above downside threshold level on observation date that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If index finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that index declines from initial share price
|
| Call: | Automatically at par if index closes at or above initial share price on any quarterly observation date
|
| Initial level: | 1,413.315
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| Downside threshold: | 989.32, 70% of initial share price
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Credit Suisse Securities (USA) Inc.
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| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 1.75%
|
| Cusip: | 22552WAN5
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