Chicago, May 18 – Credit Suisse AG, London Branch, priced $1.66 million of contingent coupon autocallable yield notes due Oct. 29, 2024 linked to the performance of the stock of Western Digital Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 9.3% per year if the stock closes at or above its coupon barrier price, 60% of its initial price, on the related observation date.
The notes will be called at par on any quarterly redemption date after six months if the stock closes above its initial level.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 60% knock-in price, in which case investors will be fully exposed to the losses of the stock.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Western Digital Corp.
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| Amount: | $1,656,000
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| Maturity: | Oct. 29, 2024
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| Coupon: | 9.3% per year, payable quarterly if the underlying stock closes at or above its coupon barrier price on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless the stock finishes below its knock-in price, in which case investors will be fully exposed to the losses of the stock
|
| Call: | At par on any quarterly redemption date after six months if the stock finishes above its initial level
|
| Initial price: | $55.48
|
| Coupon barrier/knock-in prices: | $33.288; 60% of initial prices
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| Pricing date: | Oct. 27, 2021
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| Settlement date: | Oct. 29, 2021
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22552XZ71
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