By Wendy Van Sickle
Columbus, Ohio, March 8 – Credit Suisse AG, London Branch priced $870,000 of contingent coupon autocallable reverse convertible securities due March 11, 2020 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly at an annual rate of 13% if the stock closes at or above its 70% knock-in level on a quarterly observation date.
The notes will be called at par if the shares close at or above the initial share price on any observation date.
The payout at maturity will be par unless the shares finish below the initial level and close below the knock-in level any day during the life of the notes, in which case investors will receive a number of shares 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 and Incapital LLC are the agents.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible securities
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| Underlying stock: | Wynn Resorts, Ltd.
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| Amount: | $870,000
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| Maturity: | March 11, 2020
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| Coupon: | 13%, payable quarterly if stock closes at or above knock-in price on a quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below initial level and closes below knock-in price any day during life of notes, in which case a number of shares equal to $1,000 divided by the initial share price
|
| Call: | At par if shares close at or above initial share price on any observation date
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| Initial level: | $123.55
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| Knock-in price: | $86.485, 70% of initial share price
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| Pricing date: | March 6
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| Settlement date: | March 11
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| Agents: | Credit Suisse Securities (USA) LLC and Incapital LLC
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| Fees: | 2.235%
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| Cusip: | 22549JF39
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