By Wendy Van Sickle
Columbus, Ohio, Dec. 13 – Credit Suisse AG, London Branch priced $2.35 million of 0% absolute return digital barrier securities due June 15, 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 the fixed return of 30%.
If the index finishes at or above the 70% knock-in level, the payout will be par plus the absolute value of the return of worse performing index.
Otherwise, investors will be fully exposed to any decline in the index.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Absolute return digital barrier securities
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| Underlying index: | S&P 500
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| Amount: | $2.35 million
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| Maturity: | June 15, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus 30%; if index finishes at or above knock-in level, par plus absolute return of index; otherwise, 1% loss per 1% decline of index
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| Initial level: | 2,637.72
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| Knock-in level: | 1,846.404 for S&P; 70% of initial level
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 13
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22551LL57
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