Chicago, April 14 – Credit Suisse AG, London Branch, priced $144,000 of 5.3% contingent coupon autocallable yield notes due July 8, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a monthly coupon at the rate of 5.3% per year.
The notes will be called at par plus the coupon if each index closes above its initial level on any monthly trigger observation date after six months.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 75% knock-in level during the life of the notes, in which case investors will be exposed to the decline of the least-performing index from its initial level with a maximum payout of par.
Credit Suisse Securities (USA) LLC is the underwriter.
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 S&P 500
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Amount: | $144,000
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Maturity: | July 8, 2021
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Coupon: | 5.3% annual rate, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below its knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level with a maximum payout of par
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Call: | Par plus the coupon if each index closes above its initial level on any monthly trigger observation date after six months
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Initial levels: | 2488.65 for S&P and 1052.053 for Russell
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Knock-in levels: | 1866.4875 for S&P and 789.03975 for Russell, 75% of initial levels
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Pricing date: | April 3
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Settlement date: | April 8
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 2.5%
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Cusip: | 22551NX84
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