By Wendy Van Sickle
Columbus, Ohio, Dec. 16 – Credit Suisse AG, London Branch priced $1 million of contingent coupon autocallable yield notes due Dec. 12, 2025 linked to the least performing of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underliers are the shares of Alibaba Group Holding Ltd., Energy Transfer LP and PayPal Holdings, Inc.
Contingent coupons are payable monthly at an annual rate of 20% if each stock closes above its coupon barrier, 60% of its initial level, on the related observation date.
The notes will be called at par if the shares of the least performing stock close at or above their initial price on any monthly trigger observation date after three months.
The payout at maturity will be par unless any of the stocks finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the worst performing underlying.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying stocks: | Alibaba Group Holding Ltd., Energy Transfer LP and PayPal Holdings, Inc.
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| Amount: | $1 million
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| Maturity: | Dec. 12, 2025
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| Coupon: | 20% per year, payable monthly if each stock closes above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below knock-in price, in which case full exposure to losses of worst performing underlying
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| Call: | At par plus the coupon if all shares close at or above initial share price on any monthly trigger observation date after three months
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| Initial prices: | $198.74 for Alibaba, $11.79 for Energy Transfer, $103.78 for PayPal
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| Coupon barriers: | $119.244 for Alibaba, $7.074 for Energy Transfer, $62.268 for PayPal; 60% of initial levels
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| Knock-in levels: | $99.37 for Alibaba, $5.895 for Energy Transfer, $51.89 for PayPal; 50% of initial levels
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 12
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.5%
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| Cusip: | 22551NDW3
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