By Toni Weeks
San Luis Obispo, Calif., Oct. 1 - Credit Suisse AG, London Branch priced $985,000 of autocallable contingent coupon buffered securities due Oct. 4, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 6% per year, payable quarterly. Interest will only be paid if each index closes above the contingent coupon barrier level, 65% of the initial level, on the observation date for that period.
The notes will be automatically called at par if the closing level of each index is at or above its initial level on any quarterly observation date.
If the final level of each index is at least 85% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1.1765% for every 1% decline in the least-performing index beyond the 15% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable contingent coupon buffered securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $985,000
|
| Maturity: | Oct. 4, 2021
|
| Coupon: | 6%, payable quarterly if each index closes above contingent coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If final index level of each index is at least 85% of initial level, par; 1.1765% loss for every 1% decline in least-performing index beyond 15% buffer
|
| Call: | At par if closing level of each index is at or above its initial level on any quarterly observation date
|
| Initial levels: | 1,691.75 for S&P 500 and 1,074.19 for Russell 2000
|
| Coupon barrier levels: | 1,099.6375 for S&P 500 and 698.2235 for Russell 2000, 65% of initial levels
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 2
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22547QBM7
|
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