By Wendy Van Sickle
Columbus, Ohio, May 26 – Credit Suisse AG, London Branch sold $6.09 million of autocallable securities due May 3, 2024 tied to the stock of UBS Group AG, according to a 424B2 filing with the Securities and Exchange Commission
The notes will be called if the stock finishes above its initial level on any quarterly observation date after a year at par of $10 plus an annualized redemption premium of 10%.
If the notes are not called, investors will receive par plus 30% if the stock finishes above its initial level.
If the stock declines but still finishes above 75% of its initial level, the payout will be par.
Otherwise, investors will fully participate in the losses of the stock.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying stock: | UBS Group AG
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| Amount: | $6.09 million
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| Maturity: | May 3, 2024
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If stock finishes above initial level, par plus 30%; par if stock declines but finishes above downside threshold level; otherwise, 1% loss for each 1% decline of stock from initial level
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| Call: | Automatically at par plus 10% annualized premium if stock closes above initial level on any quarterly observation date after a year
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| Initial level: | $15.29
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| Downside threshold level: | $11.47, 75% of initial level
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| Pricing date: | April 30
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| Settlement date: | May 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.5%
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| Cusip: | 22551F871
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