By Sarah Lizee
Olympia, Wash., April 8 – Credit Suisse AG, London Branch priced $745,000 of 0% autocallable securities due April 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 11.5% per year if the index closes at or above the initial level on any annual observation dates.
If the final index level is greater than or equal to the initial level, the payment at maturity will be the par plus 34.5%.
If the index declines by up to 40%, the payout will be par.
If it declines by more than 40%, investors will be exposed to the decline.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying index: | S&P 500
|
| Amount: | $745,000
|
| Maturity: | April 3, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than or equal to initial level, par plus 34.5%; if the index declines by up to 40%, par; if it declines by more than 40%, investors will be exposed to the decline
|
| Call: | At par plus 11.5% per year if index closes at or above its initial level on any annual observation date
|
| Initial level: | 2626.65
|
| Knock-in level: | 1575.99; 60% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 2
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.95%
|
| Cusip: | 22551NWK8
|
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