By William Gullotti
Buffalo, N.Y., Feb. 7 – Credit Suisse AG, London Branch priced $4.72 million of 0% trigger Performance Leveraged Upside Securities due Feb. 5, 2025 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filed with the Securities and Exchange Commission.
If the ETF finishes above its initial level, the payout at maturity will be par plus double the ETF return, subject to a maximum payout of par plus 41.5%.
If the fund falls but finishes at or above its 90% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to the ETF’s decline from its initial level.
Credit Suisse Securities (USA) LLC is the underwriter. Morgan Stanley Smith Barney LLC is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | Financial Select Sector SPDR Fund
|
| Amount: | $4,720,660
|
| Maturity: | Feb. 5, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus two times any positive ETF return capped at 41.5%; if ETF falls by up to 10%, par; otherwise, 1% loss per 1% decline from initial level
|
| Initial level: | $39.06
|
| Trigger level: | $35.15; 90% of initial level
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 3
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3%
|
| Cusip: | 22552J229
|
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