By Sarah Lizee
Olympia, Wash., March 31 – Credit Suisse AG, London Branch priced $7.57 million of 0% autocallable buffered return equity securities due Sept. 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium if the index closes at or above 95% of its initial level on Sept. 23 or 90% of initial level on the March 23, 2021. The premium will be 10.675% for the first call date and 21.35% for the second call date.
If the notes are not called, the payout at maturity will be par plus 32.025% if the index finished at or above 80% of its initial level.
Investors will lose 1.25% for every 1% decline beyond the 20% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable buffered return equity securities
|
| Underlying index: | S&P 500
|
| Amount: | $7,565,000
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| Maturity: | Sept. 27, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 32.025% if the index finished at or above 80% of its initial level; 1.25% loss for every 1% decline beyond the 20% buffer
|
| Call: | Automatically at par plus a premium if the index closes at or above 95% of its initial level on Sept. 23 or 90% of initial level on the March 23, 2021; premium will be 10.675% for the first call date and 21.35% for the second call date
|
| Initial level: | 2,409.39
|
| Buffer level: | 1,927.512, 80% of initial level
|
| Pricing date: | March 23
|
| Settlement date: | March 26
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.2%
|
| Cusip: | 22551NVK9
|
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