By Kiku Steinfeld
Chicago, Feb. 25 – Credit Suisse AG, London Branch priced $863,000 of 13.15% autocallable reverse convertible securities due Aug. 19, 2022 linked to the least performing of the common shares of Western Digital Corp. and Weyerhaeuser Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares of the least performing stock close at or above its initial price on any quarterly observation date after six months.
If the notes are not called, the payout at maturity will be par unless any of the stocks finish below its 65% knock-in level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable reverse convertible securities
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| Underlying stocks: | Western Digital Corp. and Weyerhaeuser Co.
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| Amount: | $863,000
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| Maturity: | Aug. 19, 2022
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| Coupon: | 13.15% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in price, in which case shares of least performing stock equal to $1,000 divided by initial share price or amount in cash equal to value of those shares
|
| Call: | At par if shares close at or above initial share price on any quarterly observation date after six months
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| Initial prices: | $66.66 for Western Digital and $34.89 for Weyerhaeuser
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| Knock-in levels: | $43.329 for Western Digital and $22.6785 for Weyerhaeuser; 65% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 19
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1%
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| Cusip: | 22550MQY8
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