By Angela McDaniels
Tacoma, Wash., Dec. 19 – Credit Suisse AG, London Branch priced $3.62 million of 0% digital barrier notes due Dec. 17, 2020 linked to the Materials Select Sector SPDR fund and the Consumer Staples Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either fund finishes at or below its knock-in level, 70% of its initial share price.
If the lesser-performing fund finishes at or above its initial share price, the payout at maturity will be par plus 62.5%.
If the lesser-performing fund finishes below its initial share price and a knock-in event has not occurred, the payout will be par.
If the lesser-performing fund finishes below its initial share price and a knock-in event has occurred, investors will be exposed to the decline of the lesser-performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier notes
|
| Underlying funds: | Materials Select Sector SPDR fund and Consumer Staples Select Sector SPDR fund
|
| Amount: | $3,621,000
|
| Maturity: | Dec. 17, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing fund finishes at or above initial share price, par plus 62.5%; if lesser-performing fund finishes below initial share price but above knock-in level, par; if lesser-performing fund finishes at or below knock-in level, exposure to decline of lesser-performing fund
|
| Initial share prices: | $50.42 for materials fund and $52.05 for consumer staples fund
|
| Knock-in levels: | $35.294 for materials fund and $36.435 for consumer staples fund; 70% of initial share prices
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 19
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22548QQP3
|
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