By Marisa Wong
Morgantown, W.Va., Feb. 27 – Credit Suisse AG, London Branch priced $777,000 of 0% accelerated barrier notes due Feb. 26, 2019 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 19.5%.
If the final share price is less than the initial share price but greater than the knock-in level, 70% of the initial share price, the payout will be par.
If the final share price is less than or equal to the knock-in level, investors will be fully exposed to the fund’s decline.
Credit Suisse Securities (USA) LLC is the underwriter.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Accelerated barrier notes
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Underlying ETF: | Financial Select Sector SPDR fund
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Amount: | $777,000
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Maturity: | Feb. 26, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, capped at 19.5%; par if fund falls by less than 30%; otherwise, 1% loss for each 1% decline
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Initial price: | $24.47
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Knock-in price: | $17.13, 70% of initial price
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Pricing date: | Feb. 17
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Settlement date: | Feb. 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.2%
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Cusip: | 22548QU37
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