By Taylor Fox
New York, March 18 – Credit Suisse AG, London Branch, priced $1 million of contingent coupon autocallable yield notes due March 11, 2024 linked to the least performing of the stocks of Sysco Corp. and US Foods Holding Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 14% per year if each stock closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes will be called at par plus the coupon if each stock closes above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par unless either stock finishes below its 60% 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
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Sysco Corp. and US Foods Holding Corp.
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| Amount: | $1 million
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| Maturity: | March 11, 2024
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| Coupon: | 14% per year, payable quarterly if each underlying asset closes at or above its coupon barrier level on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
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| Call: | Par plus the coupon if each stock closes above its initial level on any quarterly trigger observation date after six months
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| Initial levels: | $81.70 for Sysco and $38.35 for US Foods
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| Coupon barrier levels: | $49.02 for Sysco and $23.01 for US Foods, 60% of initial levels
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| Knock-in levels: | $49.02 for Sysco and $23.01 for US Foods, 60% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 11
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.35%
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| Cusip: | 22552XFF5
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