By Susanna Moon
Chicago, Sept. 9 – Credit Suisse AG, London Branch priced $785,000 of contingent coupon autocallable yield notes due Sept. 4, 2025 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier level, 70% of its initial level, during the observation date for that quarter.
The payout at maturity will be par unless either index finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes will be called at par if each index closes at or above the initial level on any interest payment date after three years.
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 indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $785,000
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| Maturity: | Sept. 4, 2025
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| Coupon: | 8% per year per quarter that each index closes at or above barrier level during that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below barrier level, in which case full exposure to any losses of worse performing index
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| Call option: | At par if each index closes at or above the initial level on any interest payment date beginning
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| Initial levels: | 1,128.052 for Russell and 3,188.73 for Euro Stoxx
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| Coupon barriers: | 70% of initial levels
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| Trigger levels: | 65% of initial levels
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| Pricing date: | Sept. 1
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| Settlement date: | Sept. 4
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22546VLM6
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