By Kiku Steinfeld
Chicago, Nov. 29 – Credit Suisse AG, London Branch priced $250,000 of contingent coupon callable yield notes due Aug. 18, 2022 linked to the least performing of the shares of Southwest Airlines Co. and Moderna, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annualized rate of 11.9% if each stock closes above its coupon barrier, 50% of its initial level, on the related observation date.
The notes may be called at par plus any coupon if the shares of the least performing stock close at or above its initial price on any of two quarterly observation dates after six months.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its 50% knock-in level, in which case investors will be exposed to the decline of the least performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stocks: | Southwest Airlines Co. and Moderna, Inc.
|
| Amount: | $250,000
|
| Maturity: | Aug. 18, 2022
|
| Coupon: | 11.9% per year, payable monthly if each stock closes above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below knock-in level, in which case exposure to decline of least performing stock from its initial level
|
| Call option: | At par plus any coupon if shares close at or above initial share price on any of two quarterly observation dates after six months
|
| Initial prices: | $50.41 for Southwest, $389.78 for Moderna
|
| Coupon barrier/knock-in levels: | $25.205 for Southwest, $194.89 for Moderna; 50% of initial levels
|
| Pricing date: | Aug. 13
|
| Settlement date: | Aug. 18
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3%
|
| Cusip: | 22552XTK9
|
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