By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – Credit Suisse AG, London Branch priced $1.44 million of 0% autocallable securities due Jan. 23, 2025 linked to the Utilities Select Sector SPDR fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Credit Suisse will call the notes at par plus a call premium of 15.1% per year if the closing level of each asset is greater than or equal to its trigger level on any annual call date. The trigger level will be equal to the initial level.
If the notes are not redeemed, investors will receive par plus 10% if each asset finishes at or above the knock-in level, 60% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
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| Underlying assets: | Utilities Select Sector SPDR fund, SPDR S&P Regional Banking ETF
|
| Amount: | $1,436,000
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| Maturity: | Jan. 23, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 10% if each asset finishes at or above the knock-in level; otherwise, 1% loss for each 1% decline of the worst performing asset from its initial level
|
| Call: | Automatically at par plus annualized premium of 15.1% if each asset closes at or above trigger level on any annual call date; trigger level will be equal to 100% of initial level
|
| Initial levels: | $65.89 for utilities fund and $56.60 for banking ETF
|
| Knock-in levels: | $39.534 for utilities fund and $33.96 for banking ETF; 60% of initial levels
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2%
|
| Cusip: | 22551NHQ2
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