By Angela McDaniels
Tacoma, Wash., Oct. 4 – Credit Suisse AG, London Branch priced $295,000 of contingent coupon autocallable yield notes due Sept. 26, 2024 linked to the common stock of Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 15.4% per year if the stock closes at or above its knock-in level, 55% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the knock-in level, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
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 stock: | Valero Energy Corp.
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| Amount: | $295,000
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| Maturity: | Sept. 26, 2024
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| Coupon: | 15.4% per year, payable quarterly if stock closes at or above knock-in level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than knock-in level, in which case 1% loss for every 1% that stock declines from initial share price
|
| 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: | $100.57
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| Knock-in level: | $55.3135, or 55% of initial share price
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| Pricing date: | Sept. 23, 2022
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| Settlement date: | Sept. 28, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.75%
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| Cusip: | 22553QMA2
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