By Kiku Steinfeld
Chicago, Jan. 10 – Credit Suisse AG, London Branch, priced $2.64 million of 0% autocallable securities due Nov. 16, 2023 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a premium of 9.05% if the fund closes at or above its initial value on Nov. 21, 2022.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 125% of the ETF’s return.
If the final share price is less than the initial share price but greater than or equal to the downside threshold level, 80% of the initial share price, the payout will be par.
If the final share price is less than the downside threshold level, investors will lose 1% for each 1% that the ETF declines.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC is acting as the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $2,640,850
|
| Maturity: | Nov. 16, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus 125% of ETF return; if final share price is less than initial share price but greater than or equal to downside threshold level, par; otherwise, 1% loss for each 1% that ETF declines
|
| Call: | At par plus 9.05% if fund closes at or above initial level on Nov. 21, 2022
|
| Initial share price: | $52.00
|
| downside threshold level: | $41.60, 80% of initial level
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| Pricing date: | Nov. 12
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| Settlement date: | Nov. 17
|
| Agents: | Credit Suisse Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 2.5%
|
| Cusip: | 22551G507
|
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