Credit Suisse plans to price autocallable notes with contingent downside on two bank ETFs

By Emma Trincal

New York, June 7 – Credit Suisse AG, London Branch plans to price 0% market-linked securities – autocallable with contingent downside due July 7, 2025 linked to the performance of the Financial Select Sector SPDR fund and the SPDR S&P Regional Banking ETF according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized call premium of 13.25% if both ETFs close at or above their initial levels on any semiannual observation date after one year.

If the notes have not been 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 39.75%.

If any ETF declines but each finish at or above its threshold price, 70% of the initial level, the payout will be par.

If the final level of any ETF is less than its threshold price, investors will lose 1% for each 1% decline of the lesser performing ETF from its initial level.

The agent is Wells Fargo Securities, LLC.

The notes will price on June 30 and settle on July 6.

The Cusip number is 22553Q2E6.

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