By Angela McDaniels
Tacoma, Wash., Dec. 30 – Credit Suisse AG, London Branch priced $3.72 million of contingent coupon autocallable yield notes due Dec. 23, 2021 linked to the common stock of Walgreens Boots Alliance, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Walgreens Boots stock closes at or above the knock-in level, 78.5% of the initial share price, on a quarterly observation date, the notes will pay a contingent coupon that quarter at the rate of 10% per year plus all prior unpaid contingent coupons, if any.
The notes will be automatically called at par if Walgreens Boots stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless Walgreens Boots stock finishes below the knock-in level, in which case investors will be exposed to the stock’s decline from its initial share price.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying stock: | Walgreens Boots Alliance, Inc. (Symbol: WBA)
|
| Amount: | $3,715,000
|
| Maturity: | Dec. 23, 2021
|
| Coupon: | If Walgreens Boots stock closes at or above knock-in level on quarterly observation date, notes pay contingent coupon that quarter at rate of 10% per year plus all prior unpaid contingent coupons, if any
|
| Price: | Par
|
| Payout at maturity: | Par unless Walgreens Boots stock finishes below knock-in level, in which case exposure to stock’s decline from initial share price
|
| Call: | Automatically at par if Walgreens Boots stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $57.75
|
| Knock-in level | $45.33, 78.5% of initial share price
|
| Pricing date: | Dec. 19
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| Settlement date: | Dec. 24
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 22551NEU6
|
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