By William Gullotti
Buffalo, N.Y., April 21 – Credit Suisse AG, London Branch priced $3.1 million of 0% autocallable securities due April 21, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an 11.5% redemption premium if the index closes at or above its initial level on April 19, 2023.
If the notes are not called and the index finishes positive, the payout at maturity will be par plus 1.5 times the index return.
If the index declines no more than 30%, the payout at maturity will be par.
If the final level of the index is less than its 70% downside threshold, investors will lose 1% for each 1% decline from the index’s initial level.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,104,000
|
| Maturity: | April 21, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of the index is greater than its initial level, par plus 1.5 times the index return; if the index declines but finishes at or above downside threshold, par; otherwise, full exposure to index decline
|
| Call: | Automatically at par plus an 11.5% redemption premium if the index closes at or above its initial level on April 19, 2023
|
| Initial level: | 4,391.69
|
| Downside threshold: | 3,074.183; 70% of initial levels
|
| Pricing date: | April 18
|
| Settlement date: | April 21
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22553PSP5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
