By Wendy Van Sickle
Columbus, Ohio, July 27 – Credit Suisse AG, London branch priced $5.45 million of 0% trigger securities due Dec. 22, 2017 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus the return.
If the index finishes below its initial level, but never closes below its knock-in level, 74.65% of its initial level, on any day during the life of the notes, the payout will be par.
If the index return is zero or negative and the final level is greater than or equal to the trigger level, 75% of the initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline in the index from its initial level.
Credit Suisse Securities (USA) LLC is the agent. UBS Financial Services Inc. is the dealer.
| Issuer: | Credit Suisse AG, London branch
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| Issue: | Trigger securities
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| Underlying index: | S&P 500
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| Amount: | $5.45 million
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| Maturity: | Dec. 22, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain; par if final index falls but index never closes below knock-in level any day during life of notes; otherwise, full exposure to index decline
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| Initial level: | 2,168.48
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| Knock-in level: | 1,618.77, 74.65% of initial level
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| Pricing date: | July 25
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| Settlement date: | Aug. 8
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| Agents: | Credit Suisse Securities (USA) LLC and UBS Financial Services Inc.
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| Fees: | 1.75%
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| Cusip: | 22548QCP8
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