Chicago, May 13 – Credit Suisse AG, London Branch priced $600,000 of buffered contingent coupon autocallable yield notes due May 13, 2021 linked to the common stock of Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Starbucks stock closes at or above the buffer level, 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon at the rate of 15.55% per year for that quarter and all prior unpaid contingent coupons, if any.
The notes will be automatically called at par of $10,000 if Starbucks stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless Starbucks stock finishes below the buffer level, in which case investors will lose 1.25% for every 1% that Starbucks stock declines beyond 20%.
The payout at maturity can be either in cash or in shares.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered contingent coupon autocallable yield notes
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| Underlying stock: | Starbucks Corp.
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| Amount: | $600,000
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| Maturity: | May 13, 2021
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| Coupon: | If stock closes at or above buffer level on quarterly observation date, notes pay contingent coupon at rate of 15.55% per year for that quarter and all prior unpaid contingent coupons, if any
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| Price: | Par of $10,000
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| Payout at maturity: | Par unless stock finishes below buffer level, in which case 1.25% loss for every 1% that stock declines beyond 20%
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| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $77.74
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| Buffer level: | $62.19, 80% of initial share price
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| Pricing date: | April 29
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| Settlement date: | May 1
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
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| Cusip: | 22550MEL9
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