By Sarah Lizee
Olympia, Wash., March 9 – Credit Suisse AG, London Branch priced $1.49 million of market-linked securities due March 1, 2023 – autocallable with contingent coupon and contingent downside linked to the iShares MSCI Brazil ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the fund closes at or above its 75% threshold on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the fund finishes below its threshold, in which case the payout will be par plus the return of the fund with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Credit Suisse AG, London branch
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying fund: | iShares MSCI Brazil ETF
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| Amount: | $1.49 million
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| Maturity: | March 1, 2023
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| Coupon: | 9% annualized, payable quarterly if fund closes at or above threshold on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If fund closes above threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if fund closes at or above its initial level on any determination date after six months
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| Initial level: | $37.78
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| Threshold level: | $28.335, 75% of initial level
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| Pricing date: | Feb. 27
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| Settlement date: | March 3
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.4%
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| Cusip: | 22551NMH6
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