By Marisa Wong
Morgantown, W.Va., Jan. 19 – Credit Suisse AG, London Branch priced $4.86 million of 0% absolute return barrier securities due Jan. 19, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 1.32 times the gain.
If the index finishes above the 75% knock-in level, the payout will be par plus the absolute value of the return. The maximum redemption amount in this case is $1,249.99 per $1,000 principal amount.
Otherwise, investors will lose 1% for each 1% index decline.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Absolute return barrier securities
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Underlying index: | S&P 500
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Amount: | $4.86 million
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Maturity: | Jan. 19, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains, par plus 1.32 times gain; if index finishes above knock-in level, par plus the absolute value of return; otherwise, 1% loss for each 1% decline
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Initial index level: | 2,274.64
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Knock-in level: | 1,705.98; 75% of initial level
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Pricing date: | Jan. 13
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Settlement date: | Jan. 19
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 3.25%
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Cusip: | 22548QSP1
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