By Kiku Steinfeld
Chicago, March 9 – Credit Suisse AG, London Branch priced $1.2 million of contingent coupon autocallable yield notes due March 3, 2025 linked to the common stocks of Western Digital Corp. ad Cisco Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the coupon barrier level, 50% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 11.55% per year.
After one year, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly observation date other than the final observation date.
If the notes are not called, the payout at maturity will be par unless either stock finishes below the 50% knock-in level, in which case investors will lose 1% for each 1% decline of the laggard stock.
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: | Western Digital Corp. and Cisco Systems, Inc.
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| Amount: | $1,200,000
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| Maturity: | March 3, 2025
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| Contingent payment: | 11.55% per year, payable quarterly if each stock closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below knock-in, in which case investors will lose 1% for each 1% decline of laggard stock
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| Call: | After one year, automatically at par plus contingent coupon if each stock closes at or above its initial level on any quarterly observation date other than final observation date
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| Initial share price: | $42.16 for Cisco, $59.62 for Western Digital
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| Coupon barrier/knock-in levels: | $21.08 for Cisco, $29.81 for Western Digital; 50% of initial share prices
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| Pricing date: | Feb. 27
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| Settlement date: | March 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.35%
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| Cusip: | 22551NSS6
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