By William Gullotti
Buffalo, N.Y., Sept. 7 – Credit Suisse AG, London Branch priced $1.5 million of contingent coupon autocallable yield notes due June 30, 2023 linked to the common stock of fuboTV Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annualized rate of 23.1% if the stock closes above its coupon barrier, 60% of its initial level, on the observation date for the period.
The notes will be called at par plus the coupon if the shares close at or above the call level, 80% of initial share price, on any monthly trigger observation date after three months.
If the notes are not called, the payout at maturity will be par plus any final coupon due unless the shares finish below their knock-in level, 50% of their initial price, in which case investors be fully exposed to the losses of the 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: | fuboTV Inc.
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Amount: | $1,500,000
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Maturity: | June 30, 2023
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Coupon: | 23.1% annual rate, payable monthly if stock closes above coupon barrier on observation day for that period
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Price: | Par
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Payout at maturity: | Par plus any final coupon due unless stock finishes below knock-in level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
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Call: | Automatically at par plus coupon if shares close at or above call level on any monthly trigger observation date after three months
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Initial level: | $34.25
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Call level: | $27.40; 80% of initial share price
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Coupon barrier: | $20.55; 60% of initial share price
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Knock-in price: | $17.125; 50% of initial share price
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22552XNV1
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