Chicago, Jan. 26 – Credit Suisse AG, London Branch priced $5 million of contingent coupon autocallable yield notes due Jan. 27, 2025 linked to the least performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 6.2% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be called at par plus coupon if each index closes at or above its initial level on any quarterly autocall observation date after six months.
If the notes have not been called, the payout at maturity will be par unless either index closes below its 75% knock-in value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
The agent is Credit Suisse Securities (USA) LLC.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon autocallable yield notes
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Underlying indexes: | Dow Jones industrial average, S&P 500 index
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Amount: | $5 million
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Maturity: | Jan. 27, 2025
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Coupon: | 6.2% per year, payable quarterly if each index closes at or above its coupon barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless either index closes below its knock-in value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly trigger observation date after six months
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Initial levels: | 4532.76 for S&P, 35028.65 for Dow
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Coupon barriers: | 3399.57 for S&P, 26271.4875 for Dow; 75% of initial levels
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Knock-in levels: | 3399.57 for S&P, 26271.4875 for Dow; 75% of initial levels
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Pricing date: | Jan. 20
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Settlement date: | Jan. 27
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.1%
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Cusip: | 22553PG37
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