By Taylor Fox
New York, Oct. 26 – Credit Suisse AG, London Branch priced $1 million of contingent coupon buffered autocallable yield notes due Sept. 28, 2021 linked to the least performing of the common stocks of Bank of America Corp. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 12.75% if each stock closes at or above its 70% barrier on the related observation date.
The notes will be called at par if each stock closes at or above its initial level on any observation.
The payout at maturity will be par unless any stock falls by more than 15%, in which case investors will lose 1% for each 1% decline of the worst performing stock beyond the 15% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon buffered autocallable yield notes
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| Underlying stocks: | Bank of America Corp. and Wells Fargo & Co.
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| Amount: | $1 million
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| Maturity: | Sept. 28, 2021
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| Coupon: | 12.75% annualized, payable quarterly if each stock closes at or above its barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless either stock falls by more than 15%, in which case 1% loss for each 1% decline of worse performing stock beyond 15%
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| Call: | At par if each stock closes at or above initial level on any observation date
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| Initial levels: | $23.26 for Bank of America and $22.83 for Wells Fargo
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| Coupon barrier levels: | $16.28 for Bank of America and $15.98 for Wells Fargo; 70% of initial levels
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| Buffer levels: | $19.77 for Bank of America and $19.41 for Wells Fargo; 85% of initial levels
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| Agent: | Credit Suisse Securities (USA) LLC
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Fees: | 1.25%
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| Cusip: | 22552WN50
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