By Taylor Fox
New York, Aug. 20 – Credit Suisse AG priced $100,000 of market-linked securities due Feb. 9, 2023 – autocallable with contingent coupon and contingent downside linked to the iShares MSCI Brazil ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if the fund closes at or above its 75% coupon threshold on the observation date for that period.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the fund finishes below its 75% downside threshold, in which case the payout will be par plus the return of the fund with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Credit Suisse AG
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying fund: | iShares MSCI Brazil ETF
|
| Amount: | $100,000
|
| Maturity: | Feb. 9, 2023
|
| Coupon: | 12.5% annualized, payable quarterly if fund closes at or above coupon threshold on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the fund falls by more than 25%, in which case 1% loss per 1% decline of the fund
|
| Call: | At par if the fund closes at or above its initial level on any quarterly calculation date after six months
|
| Initial level: | $36.23
|
| Coupon threshold: | $27.1725; 75% of initial level
|
| Downside threshold: | $27.1725; 75% of initial level
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.825%
|
| Cusip: | 22552X7A5
|
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