By Sarah Lizee
Olympia, Wash., July 8 – Credit Suisse AG, London Branch priced $580,000 of contingent coupon autocallable yield notes due Jan. 3, 2023 linked to Slack Technologies, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the coupon barrier level, 64% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 20% per year.
The notes will be called at par plus the contingent coupon if the stock closes at or above 90% of its initial price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par plus any coupon unless the share price finishes below its 64% knock-in level, in which case investors will lose 1% for each 1% decline of the stock.
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 stock: | Slack Technologies, Inc.
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| Amount: | $580,000
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| Maturity: | Jan. 3, 2023
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| Contingent payment: | 20% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless the share price finishes below knock-in, in which case investors will lose 1% for each 1% decline of the stock
|
| Call: | Automatically at par plus contingent coupon if the stock closes at or above 90% of its initial price on any quarterly trigger observation date
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| Initial share price: | $30.87
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| Coupon barrier: | $19.7568, 64% of initial share price
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| Knock-in price: | $19.7568, 64% of initial share price
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| Pricing date: | June 29
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| Settlement date: | July 2
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3.25%
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| Cusip: | 22552WAK1
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