By Wendy Van Sickle
Columbus, Ohio, March 13 – Credit Suisse AG, London Branch priced $1 million of 0% autocallable securities due March 6, 2023 linked to the Industrial Select Sector SPDR fund, Technology Select Sector SPDR fund and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Credit Suisse will call the notes at par plus a call premium of 10% per year if the closing level of each asset is greater than or equal to its trigger level on any semiannual call date after one year. The trigger level will be equal to the initial levels.
If the notes are not redeemed, investors will receive par plus 30% if each asset finishes at or above the knock-in level, 65% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying assets: | Industrial Select Sector SPDR fund, Technology Select Sector SPDR fund, Health Care Select Sector SPDR fund
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| Amount: | $1 million
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| Maturity: | March 6, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 30% if each asset finishes at or above the knock-in level; otherwise, 1% loss for each 1% decline of the worst performing asset from its initial level
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| Call: | Automatically at par plus annualized premium of 10% if each asset closes at or above trigger level on any semiannual call date after one year; trigger level will be equal to 100% of initial level
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| Initial levels: | $73.08 for industrial fund, $88.37 for technology fund and $96.21 for health care fund
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| Knock-in levels: | $47.502 for industrial fund, $57.4405 for technology fund and $60.195 for health care fund; 65% of initial levels
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| Pricing date: | March 2
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| Settlement date: | March 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22551NTH9
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