By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – Credit Suisse AG, London Branch priced $3 million of contingent coupon autocallable yield notes due July 8, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the coupon barrier level, 75% of the initial level, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 9% per year.
The notes will be called at par plus the contingent coupon if the index closes at or above 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 level finishes below the 75% knock-in level, in which case investors will lose 1% for each 1% decline of the index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying index: | Russell 2000 index
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| Amount: | $3 million
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| Maturity: | July 8, 2025
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| Contingent payment: | 9% per year, payable quarterly if index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless the level finishes below knock-in, in which case investors will lose 1% for each 1% decline of the index
|
| Call: | Automatically at par plus contingent coupon if the index closes at or above its initial level on any quarterly trigger observation date after six months
|
| Initial level: | 2,305.762
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| Coupon barrier: | 1,729.3215, 75% of initial level
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| Knock-in level: | 1,729.3215, 75% of initial level
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| Pricing date: | July 2
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| Settlement date: | July 8
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0%
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| Cusip: | 22552XP98
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