By Susanna Moon
Chicago, March 6 – Credit Suisse AG, London Branch priced $351,000 of contingent coupon autocallable reverse convertible securities due May 21, 2019 linked to Sketchers U.S.A., Inc. class A common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 13.43% if the stock closes at or above its 60% coupon barrier on an observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the shares finish below the initial level and ever closes below the 60% knock-in level any day during the life of the notes, in which case investors will receive a number of Sketchers shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable reverse convertible securities
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| Underlying shares: | Sketchers U.S.A., Inc. (Symbol: SKX)
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| Amount: | $351,000
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| Maturity: | May 21, 2019
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| Coupon: | 13.43% annualized, payable monthly if stock closes at or above 60% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless stock falls and ever closes below 60% knock-in level, in which case 25.3807 Sketchers shares
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| Call: | At par if stock closes at or above its initial level on any quarterly call observation date
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| Initial level: | $39.40
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| Knock-in level: | $23.682, 60% of initial level
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.25%
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| Cusip: | 22549JPT1
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