By Wendy Van Sickle
Columbus, Ohio, Aug. 18 – Credit Suisse AG, London Branch priced $2.98 million of 0% digital barrier notes due Aug. 24, 2020 linked to the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if either underlying fund finishes at or below its knock-in level, 60% of its initial level.
If the lesser performing fund finishes at or above its initial level, the payout at maturity will be par plus the fixed payment of 77.8%.
If the lesser performing fund finishes below its initial level but a knock-in event does not occur, the payout will be par.
If a knock-in event occurs, investors will lose 1% for each 1% decline of the worse-performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier notes
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| Underlying funds: | Energy Select Sector SPDR and Financial Select Sector SPDR
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| Amount: | $2,975,000
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| Maturity: | Aug. 24, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus77.8% if each fund finishes above initial level; par if final level of lesser performing fund falls by up to knock-in level; if either fund finishes at or below knock-in level, 1% loss for every 1% that lesser-performing fund’s final level is less than initial level;
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| Initial levels: | $69.34 for Energy Select and $23.96 for Financial Select
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| Knock-in levels: | $41.604 for Energy Select and $14.376 for Financial Select; 60% of initial levels
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 23
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| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.25%
|
| Cusip: | 22548QEA9
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