By Devika Patel
Knoxville, Tenn., Oct. 26 – Credit Suisse AG, London Branch, priced $1,149,000 of contingent coupon autocallable yield notes due Oct. 26, 2017 linked to Walt Disney Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Disney stock closes at or above the coupon barrier level, about 80% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that period at a rate of 6% per year.
If the closing share price is greater than or equal to the initial share price on any quarterly observation date beginning on April 21, 2017, the notes will be automatically redeemed at par plus the contingent payment.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the 80% knock-in price, in which case investors will lose 1% for each 1% decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying stock: | Walt Disney Co. (Symbol: DIS)
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| Amount: | $1,149,000
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| Maturity: | Oct. 26, 2017
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| Contingent payment: | 6% per year, payable quarterly if Disney stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par, unless share price finishes below 80% knock-in price, in which case 1% loss for each 1% decline
|
| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any quarterly observation date after April 21, 2017
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| Initial share price: | $93.03
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| Coupon barrier/knock-in price: | $74.424, 80% of initial share price
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 2.1%
|
| Cusip: | 22549JCN8
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