By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – Credit Suisse AG, London Branch priced $500,000 of 0% autocallable securities due Feb. 3, 2023 linked to the lowest performing of the stocks of Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual redemption premium of 14% the least-performing stock closes at or above its initial level on any annual observation date.
If the notes are not called and the final level of each stock is equal to or greater than 65% of its initial level, the payout at maturity will be par plus 28%.
If the final level of any stock is less than its knock-in level, investors will lose 1% for each 1% decline of the least performing stock from its initial level.
Credit Suisse Securities (USA) LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying stocks: | Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co.
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| Amount: | $500,000
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| Maturity: | Feb. 3, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least-performing stock is equal to or greater than knock-in level, par plus 28%; otherwise, 1% loss for each 1% decline of least-performing stock
|
| Call: | Automatically at par plus annualized redemption premium of 14% if each stock closes at or above its initial level on any annual observation date
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| Initial levels: | $30.81 for Wells Fargo, $630.32 for Bank of America and $130.11 for JPMorgan Chase
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| Knock-in levels: | $20.0265 for Wells Fargo, $19.708 for Bank of America and $84.5715 for JPMorgan Chase; 65% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | Credit Suisse Securities (USA) LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.5%
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| Cusip: | 22552XAN3
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