By William Gullotti
Buffalo, N.Y., Aug. 15 – Credit Suisse AG, London Branch priced $22.46 million of equity-linked notes due Aug. 17, 2027 linked to an unequally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes priced at 108 for $24.26 million of proceeds.
The basket consists of the stocks of Alphabet Inc. with a 30% weight, Amazon.com, Inc. with a 30% weight, Meta Platforms, Inc. with a 15% weight, JPMorgan Chase & Co. with a 12.5% weight and Walt Disney Co. with a 12.5% weight.
The notes will pay a semiannual coupon at a 0.125% annual rate.
The payout at maturity will be the basket reference value, which is the product of the final basket level multiplied by a 9.25926 conversion ratio.
In other words, the return on the securities will be 0.85734% for every 1% increase in the basket reference value beyond an 8% percentage increase in the final level.
If the basket reference value is less than $1,000, meaning the final level of the basket is less than an 8% increase in the basket reference value, investors will receive par at maturity.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Equity-linked notes
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| Underlying stocks: | Alphabet Inc. (30% weight), Amazon.com, Inc. (30% weight), Meta Platforms, Inc. (15% weight), JPMorgan Chase & Co. (12.5% weight), Walt Disney Co. (12.5% weight)
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| Amount: | $22.46 million
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| Proceeds: | $24,256,800
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| Maturity: | Aug. 17, 2027
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| Coupon: | 0.125%, payable semiannually
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| Price: | 108; par of $1,000
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| Payout at maturity: | 9.25926 times the final basket level; if basket gains no more than 8% or decreases, par
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| Conversion ratio: | 9.25926
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| Initial levels: | $118.72 for Alphabet, $139.48 for Amazon, $171.86 for Meta, $116.47 for JPMorgan, $109.35 for Disney
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 17
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22553QFW2
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