By William Gullotti
Buffalo, N.Y., April 29 – Credit Suisse AG, London Branch priced $1.85 million of 0% trigger autocallable gears due April 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on April 28, 2023, the notes will be automatically called at par plus an 11.5% call premium.
The payout at maturity will be par of $10 plus 1.25 times any index gain.
Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.
Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable gears
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,849,000
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| Maturity: | April 30, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.25 times any index gain; par if index declines by 25% or less; full exposure to the index’s decline from its initial level if it declines by more than 25%
|
| Call: | Automatically at par plus 11.5% call premium if the index closes at or above initial level on April 28, 2023
|
| Initial level: | 4,175.2
|
| Downside threshold: | 3,131.4; 75% of initial level
|
| Strike date: | April 26
|
| Pricing date: | April 27
|
| Settlement date: | April 29
|
| Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 22552J500
|
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