New Issue: Credit Suisse sells $250,000 absolute return barrier notes on EM ETF

By Marisa Wong

Morgantown, W.Va., Aug. 13 – Credit Suisse AG, London Branch priced $250,000 of 0% absolute return barrier securities due Aug. 6, 2021 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above its initial value, the payout at maturity will be par plus the ETF return, capped at par plus 45%.

If the ETF falls but finishes at or above the 75% knock-in level, the payout will be par plus the absolute value of the ETF return.

Otherwise, investors will lose 1% for each 1% decline.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Absolute return barrier securities
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$250,000
Maturity:	Aug. 6, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF finishes flat or gains, par plus ETF return, capped at par plus 45%; if ETF falls but finishes at or above knock-in level, par plus absolute value of return; otherwise, 1% loss for each 1% decline
Initial value:	$44.21
Knock-in level:	$33.1575, 75% of initial value
Pricing date:	Aug. 3
Settlement date:	Aug. 8
Agent:	Credit Suisse Securities (USA) LLC
Fees:	1.2%
Cusip:	22550BWV1

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