By Angela McDaniels
Tacoma, Wash., Oct. 7 – Credit Suisse AG, London Branch priced $196,000 of 0% digital barrier notes due Oct. 1, 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 fund finishes at or below its knock-in level, 60% of its initial share price.
If the lesser-performing fund finishes at or above its initial share price, the payout at maturity will be par plus 57.5%.
If the lesser-performing fund finishes below its initial share price and a knock-in event has not occurred, the payout will be par.
If the lesser-performing fund finishes below its initial share price and a knock-in event has occurred, investors will be exposed to the decline of the lesser-performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Digital barrier notes
|
| Underlying funds: | Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
|
| Amount: | $196,000
|
| Maturity: | Oct. 1, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing fund finishes at or above initial share price, par plus 57.5%; if lesser-performing fund finishes below initial share price and both funds finish above knock-in level, par; if either fund finishes at or below knock-in level, exposure to decline of lesser-performing fund
|
| Initial share prices: | $66.89 for energy fund and $19.22 for financial fund
|
| Knock-in levels: | $40.134 for energy fund and $11.532 for financial fund; 60% of initial level
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.7%
|
| Cusip: | 22548QFK6
|
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