Chicago, March 21 – Credit Suisse AG, London Branch priced $1.76 million of autocallable contingent income notes due March 19, 2020 linked to the common stock of JD.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 11.25% if the shares close at or above the coupon barrier, 60% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par of $10 if the stock closes at or above the initial share price on any observation date.
If the notes are not called and the final share price is greater than or equal to the 60% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% decline.
Morgan Stanley Smith Barney LLC will act as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable contingent income notes
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| Underlying stock: | JD.com, Inc.
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| Amount: | $1,759,690
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| Maturity: | March 19, 2020
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| Coupon: | 11.25%, payable quarterly if shares close at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par if shares close at or above initial price on any observation date
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| Payout at maturity: | Par plus final coupon unless stock finishes below downside threshold, in which case 1% loss for every 1% decline
|
| Initial price: | $27.93
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| Coupon barrier/downside threshold: | $16.76, 60% of initial price
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| Pricing date: | March 15
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| Settlement date: | March 20
|
| Distributor: | Morgan Stanley Smith Barney LLC
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| Fees: | 1.75%
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| Cusip: | 22549Y826
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