By William Gullotti
Buffalo, N.Y., Dec. 14 – Credit Suisse AG, London Branch priced $3.01 million of 0% autocallable securities due Dec. 14, 2026 linked to the performance of the Energy Select Sector SPDR Fund and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 9.9% if all ETFs close at or above initial levels on any annual observation date.
If the notes are not called and the final level of each ETF is equal to or greater than its initial level, the payout at maturity will be par plus the return of the lesser performing ETF.
If any ETF declines but each finish at or above knock-in level, 50% of initial level, the payout will be par.
If the final level of any ETF is less than its knock-in level, investors will lose 1% for each 1% decline of the lesser performing ETF from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying ETFs: | Energy Select Sector SPDR Fund, Financial Select Sector SPDR Fund
|
| Amount: | $3,014,000
|
| Maturity: | Dec. 14, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above initial level, par plus the return of the lesser performing ETF; if any ETF declines but all finish at or above knock-in level, par; otherwise, 1% loss for each 1% decline of worst performing ETF from initial levels
|
| Call: | Automatically at par plus annualized redemption premium of 9.9% if each ETF closes at or above its initial level on any annual observation date
|
| Initial levels: | $56.82 for Energy, $39.01 for Financial
|
| Knock-in levels: | $28.41 for Energy, $19.505 for Financial; 50% of initial levels
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 14
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 4.1%
|
| Cusip: | 22553P4Y2
|
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