New Issue: Credit Suisse prices $415,000 dual directional digital plus barrier notes on S&P

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – Credit Suisse AG, London Branch priced $415,000 of 0% dual directional digital plus barrier notes due Dec. 9, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the greater of the index return and the fixed payment percentage of 42%.

If the final index level is less than the initial index level but has not declined by more than 25%, the payout will be par plus the absolute value of the index return.

If the index finishes below the 75% knock-in level, investors will have one-to-one exposure to the index’s decline from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Dual directional digital plus barrier notes
Underlying index:	S&P 500
Amount:	$415,000
Maturity:	Dec. 9, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus greater of return and 42%; if index falls by up to 25%, par plus absolute return; otherwise, 1% loss for each 1% decline
Initial level:	2,204.71
Knock-in level:	1,653.53, 75% of initial level
Pricing date:	Dec. 5
Settlement date:	Dec. 8
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.95%
Cusip:	22548QQB4

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