New Issue: Credit Suisse prices $1.05 million buffered accelerated return notes on funds

By Tali Rackner

Minneapolis, Jan. 23 – Credit Suisse AG, London Branch priced $1.05 million of 0% buffered accelerated return equity securities due Jan. 22, 2021 linked to the lesser performing of the iShares Nasdaq Biotechnology exchange-traded fund and the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

If each fund return is positive, the payout at maturity will be par plus 2.1425 times the return of the lesser-performing fund.

Investors will receive par if either fund falls by 20% or less and will lose 1% for every 1% that the lesser-performing fund declines beyond 20%.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London
Issue:	Buffered accelerated return equity securities
Underlying funds:	iShares Nasdaq Biotechnology exchange-traded fund, Energy Select Sector SPDR Fund
Amount:	$1.05 million
Maturity:	Jan. 22, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If each fund return is positive, par plus 2.1425 times return of lesser-performing fund; par if each fund declines by 20% or less; 1% loss for every 1% that lesser-performing fund declines beyond 20%
Initial levels:	$111.41 for Nasdaq Biotech ETF, $77.11 for Energy Select
Buffer levels:	$89.128 for Nasdaq Biotech, $61.688 for Energy Select; 80% of initial levels
Pricing date:	Jan. 18
Settlement date:	Jan. 23
Underwriter:	Credit Suisse Securities (USA) LLC
Fees:	0.625%
Cusip:	22550W7K7

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