Chicago, May 10 – Credit Suisse AG, London Branch priced $2.1 million of contingent coupon callable yield notes due March 27, 2023 linked to the common stock of Western Digital Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 15% if the stock closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any quarterly early redemption date.
The payout at maturity will be par unless the stock finishes below its 65% knock-in level, in which case investors will be fully exposed to any losses, payable either in cash or shares.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying stock: | Western Digital Corp.
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Amount: | $2,100,000
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Maturity: | March 27, 2023
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Coupon: | 15% per year, payable quarterly if stock closes at or above its coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to the loss
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Call: | At par on any quarterly early redemption date
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Initial prices: | $70.33
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Coupon barrier level: | $45.7145; 65% of initial level
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Knock-in level: | $45.7145; 65% of initial level
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Pricing date: | March 22
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Settlement date: | March 25
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22550MSM2
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