By Kiku Steinfeld
Chicago, Feb. 1 – Credit Suisse AG, London Branch priced $3.05 million of contingent coupon autocallable yield notes due July 26, 2022 linked to the common stock of Roku, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual 12% rate if the stock closes at or above its coupon barrier, 50% of its initial level, on the observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any monthly trigger observation date after three 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 the losses of the least-performing stock.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying stock: | Roku, Inc.
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Amount: | $3,047,000
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Maturity: | July 26, 2022
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Coupon: | 12% annual rate, payable monthly if the stock closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its knock-in level, in which case full exposure to the losses
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Call: | Automatically at par if the stock closes at or above initial level on any monthly trigger observation date after three months
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Initial price: | $423.64
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Coupon barrier: | $211.82; 50% of initial levels
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Knock-in level: | $211.82; 50% of initial levels
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Pricing date: | Jan. 21
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Settlement date: | Jan. 26
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.225%
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Cusip: | 22552X5T6
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