Chicago, July 26 – Credit Suisse AG priced $449,000 of 0% market-linked securities – autocallable with contingent downside due July 7, 2025 linked to the least performing of the Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Starting after one year, the notes will be automatically called at par plus an annualized premium of 16.5% if both ETFs close above their starting prices on any semiannual call date.
If the notes are not called because at least one ETF has finished below its starting level, the payout at maturity will be par unless either fund falls below the 70% threshold, in which case investors will be fully exposed to any decline of the worst performing fund.
Wells Fargo Securities LLC is the agent.
| Issuer: | Credit Suisse AG
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| Issue: | Market-linked securities – autocallable with contingent downside
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| Underlying ETFs: | Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF
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| Amount: | $449,000
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| Maturity: | July 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 16.5% annualized premium if both ETFs close above starting levels on any semiannual call date starting after one year
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| Payout at maturity: | If not called, par unless either fund falls below the 70% threshold, in which case investors will be fully exposed to any decline of the worst performing fund
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| Initial levels: | $31.45 for Financial, $58.09 for Banking
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| Threshold levels: | $22.015 for Financial, $40.663 for Banking; 70% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Underwriter: | Wells Fargo Securities LLC
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| Fees: | 2.425%
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| Cusip: | 22553Q2E6
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