By Devika Patel
Knoxville, Tenn., Jan. 28 – Credit Suisse AG, London Branch, priced $1 million of 0% callable Cert PLUS Securities due Jan. 28, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Jan. 30, 2017, the notes will be callable quarterly at par plus a call return of 18%. The call return will increase in increments to 85.5% on the final call date of Oct. 28, 2020.
If the notes are not called and the final index return is positive, the payout at maturity will be par plus 225% of the gain.
If the notes are not called and the final index return is negative, the payout will be par plus the final index return if the index closes at or below the knock-in level – 65% of the initial level. Otherwise, the payout will be par.
Credit Suisse is the agent.
| Issuer: | Credit Suisse AG
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| Issue: | Callable Cert PLUS Securities
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| Underlying index: | S&P 500
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| Amount: | $1 million
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| Maturity: | Jan. 28, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 225% of any positive index return; par plus any negative index return if index finishes at or below knock-in level; par if index return is negative and index remains above knock-in level
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| Call option: | At par plus 18% beginning on Jan. 30, 2017, increasing in increments to par plus 85.5% on Oct. 28, 2020
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| Initial index level: | 1,877.08
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| Knock-in level: | 1,220.102, 65% of initial level
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agent: | Credit Suisse
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| Fees: | 0.8%
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| Cusip: | 22546VV29
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