By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – Credit Suisse AG, London Branch priced $1.5 million of contingent coupon callable yield notes due Feb. 8, 2024 linked to the shares of the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 8% if the ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any quarterly early redemption date starting Aug. 9, 2021.
The payout at maturity will be par unless the ETF finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses, payable in either shares or cash.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying ETF: | Financial Select Sector SPDR Fund
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| Amount: | $1.5 million
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| Maturity: | Feb. 8, 2024
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| Coupon: | 8% per year, payable quarterly if ETF closes at or above its coupon barrier on the related observation date
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| Price: | Par
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| Payout at maturity: | Par unless ETF finishes below its knock-in level, in which case full exposure to loss, payable in either shares or cash
|
| Call: | At par on any quarterly early redemption date starting Aug. 9, 2021
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| Initial prices: | $30.21
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| Coupon barrier level: | $21.147; 70% of initial level
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| Knock-in level: | $21.147; 70% of initial level
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 8
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552XB69
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