By Sarah Lizee
Olympia, Wash., July 6 – Credit Suisse AG, London Branch priced $4.5 million of 0% step-down trigger autocallable notes due July 1, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
After one year, the notes will be called at par of $10 plus an annual call premium of 9.9% if the index closes at or above its initial level on any quarterly observation date except the final date when the call level will be equal to 70% of the index’s initial level.
If the notes are not called, the payout at maturity will be par minus 1% for each 1% decline of the index.
Credit Suisse Securities (USA) LLC and UBS Financial Services Inc. are the agents.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Step down trigger autocallable notes
|
| Underlying index: | S&P 500
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| Amount: | $4,502,000
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| Maturity: | July 1, 2024
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | 1% loss for each 1% decline of index
|
| Call: | After one year at par plus 9.9% per year if index closes at or above its initial level on any quarterly observation date except the final observation date when the call level will be 70% of initial level
|
| Initial index level: | 3,083.76
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| Final call level: | 2,158.63; 70% of initial level
|
| Pricing date: | June 26
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| Settlement date: | June 30
|
| Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 22550V869
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