By Tali Rackner
Minneapolis, April 18 – Credit Suisse AG, London Branch priced $5 million of buffered return enhanced notes due Feb. 23, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index levels will be the arithmetic average of the closing levels of each index on each trading day from April 6 through July 6.
If each index finishes at or above the buffer level of 87% of its initial level, the payout at maturity will be par plus 1.6 times the lesser-performing index return, capped at 64%.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Buffered return enhanced notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $5 million
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| Maturity: | Feb. 23, 2023
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If each index finishes at or above 87%, par plus 1.6 times return of lesser-performing index, capped at 64%; otherwise, 1% loss for each 1% loss of lesser-performing index
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| Pricing date: | April 6
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| Settlement date: | April 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 22550WNV5
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