By Kiku Steinfeld
Chicago, Oct. 8 – Credit Suisse AG, London Branch priced $1.13 million of 0% autocallable securities due April 1, 2022 linked to the lowest performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a redemption premium of 12% per year if the lesser-performing index closes at or above its initial level on March 29, 2021 or Sept. 28, 2021.
If the notes are not called and the final level of each index is equal to or greater than its initial level, the payout at maturity will be par plus 2 times any gain in the worst-performing index.
If the final level of any index is less than its initial level and no index closes below its knock-in level – 75% of its initial level, the payout will be par.
If the final level of any index is less than its initial level and any index closes below its knock-in level, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1,128,000
|
| Maturity: | April 1, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing index is equal to or greater than its initial level, par plus 2 times gain; if final level of lesser-performing index is less than its initial level and no index closes below its knock-in level, par; if final level of any index is less than its initial level and any index closes below its knock-in level, 1% loss for each 1% decline of lesser-performing index
|
| Call: | Automatically at par plus annualized redemption premium of 12% if each index closes at or above its initial level on any semiannual observation date
|
| Initial levels: | 1,510.342 for Russell 2000 and 11,364.45 for Nasdaq-100
|
| Knock-in levels: | 1,132.7565 for Russell 2000 and 8,523.3375 for Nasdaq-100; 75% of initial levels
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 1
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.1%
|
| Cusip: | 22552WML6
|
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