By Wendy Van Sickle
Columbus, Ohio, July 9 – Credit Suisse AG, London Branch priced $10 million of 8.33% autocallable fixed-income securities due July 8, 2021 linked to SPDR Dow Jones industrial average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Credit Suisse will call the notes at par of $1,000 plus a coupon if the shares close above their initial level on any monthly observation date.
The payout at maturity will be par unless the shares finish below their 80% buffer level, in which case investors will lose 1.25% for each 1% decline of the sharesbeyond 20%.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is a distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable fixed-income securities
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| Underlying shares: | SPDR Dow Jones industrial average ETF trust
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| Amount: | $10 million
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| Maturity: | July 8, 2021
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| Coupon: | 8.33%, payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless shares finish below buffer level, in which case 1.25% loss for each 1% decline beyond 20%
|
| Call: | Automatically at par plus a coupon if shares close above initial level on any monthly observation date
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| Initial level: | $257.31
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| Buffer level: | $205.85; 80% of initial level
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| Pricing date: | July 1
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| Settlement date: | July 8
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| Agent: | Credit Suisse Securities (USA) LLC
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| Distributor: | Morgan Stanley Smith Barney LLC
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| Fees: | 0.2%
|
| Cusip: | 22550MGM5
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