Chicago, March 29 – Credit Suisse AG, London Branch priced $974,000 of contingent coupon callable yield notes due March 2, 2023 linked to the common stock of Freeport-McMoRan Inc., 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, 50% 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 after six months.
The payout at maturity will be par unless the stock finishes below its 50% 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
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $974,000
|
| Maturity: | March 2, 2023
|
| Coupon: | 15% per year, payable quarterly if stock closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below its knock-in level, in which case full exposure to the loss
|
| Call: | At par on any quarterly early redemption date after six months
|
| Initial prices: | $35.68
|
| Coupon barrier level: | $17.84; 50% of initial level
|
| Knock-in level: | $17.84; 50% of initial level
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 2
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22550MRJ0
|
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