Chicago, Jan. 23 – Credit Suisse AG, London Branch priced $254,000 of 0% autocallable securities due April 28, 2026 linked to the lowest performing of the Communication Services 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 annual redemption premium of 14.5% if both funds close at or above their call levels, 100% of their initial levels, on any annual observation date.
If the notes are not called and the final level of each fund is equal to or greater than its initial level, the payout at maturity will be par plus 58%.
If the worst performer falls but finishes at or above its 70% downside threshold, the payout at maturity will be par. If the final level of any fund is less than its downside threshold, investors will lose 1% for each 1% decline of the lesser performing fund from its initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
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| Underlying funds: | Communication Services Select Sector SPDR and Financial Select Sector SPDR
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| Amount: | $254,000
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| Maturity: | April 28, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the worst performing fund is greater than or equal to its initial level, par plus 58%; if the worst performer declines up to downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing fund from initial level
|
| Call: | Automatically at par plus annualized redemption premium of 14.5% if each fund closes at or above 100% of its initial level on any annual observation date
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| Initial levels: | $61.32 for Communications, $36.17 for Financial
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| Downside thresholds: | $42.924 for Communications, $25.319 for Financial; 70% of initial levels
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| Pricing date: | April 22, 2022
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| Settlement date: | April 28, 2022
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.25%
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| Cusip: | 22553PQX0
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