By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – Credit Suisse AG, London Branch priced $4 million of 7.65% autocallable yield notes due Aug. 23, 2021 linked to the common stock of VMware, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if VMWare shares close at or above the initial share price on any monthly observation date beginning Nov. 18.
The payout at maturity will be par unless the final share price is less than the 60% knock-in level, in which case investors will be fully exposed to the decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable yield notes
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| Underlying stock: | VMware, Inc.
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| Amount: | $4 million
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| Maturity: | Aug. 23, 2021
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| Coupon: | 7.65%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless the final share price is less than knock-in level, in which case investors will be fully exposed to the decline
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| Call: | At par if VMWare shares close at or above the initial share price on any monthly observation date beginning Nov. 18
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| Initial share price: | $142.35
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| Knock-in price: | $85.41, 60% of initial price
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22552FTR3
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