By Kiku Steinfeld
Chicago, Oct. 25 – Credit Suisse AG, London Branch priced $1.45 million of 0% review notes due Oct. 26, 2022 linked to the SPDR S&P 500 trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 3.7% if the fund closes at or above its initial share price on April 22, 2022.
If the notes are not called and the final share price is equal to or greater than the initial price, the payout at maturity will be par plus the greater of any gain and 7.4%. Investors will receive par if the fund declines by 20% or less. If the fund finishes below its 80% knock-out price, investors will be fully exposed to the fund’s decline.
J.P. Morgan Securities LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Review notes
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| Underlying fund: | SPDR S&P 500 trust
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| Amount: | $1.45 million
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| Maturity: | Oct. 26, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus greater of any gain and 7.4% if final share price is equal to or greater than initial price; par if fund declines by 20% or less; otherwise, full exposure to fund’s decline
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| Call: | Automatically at par plus 3.7% if fund closes at or above initial share price on April 22, 2022
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| Initial share price: | $437.86
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| Knock-out share price: | $350.29, 80% of initial share price
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| Pricing date: | Oct. 12
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| Settlement date: | Oct. 15
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| Placement agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 22552XYM9
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