By Wendy Van Sickle
Columbus, Ohio, Jan. 18 – Credit Suisse AG, London Branch priced $10 million of 0% review notes due Jan. 15, 2020 linked to the least performing of the common stock of Apple Inc. and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium at an annual rate of 15.2% if each underlying asset closes at or above its call level, 80% of its initial level, on either of two annual review dates.
If the notes are not called, the investors will be fully exposed to the loss of the worst performing asset.
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 assets: | Common stock of Apple Inc. and SPDR S&P Bank ETF
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| Amount: | $10 million
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| Maturity: | Jan. 15, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Full exposure to loss of the worse performing asset
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| Call: | At par plus 15.2% per year if each asset closes at or above call level on either of two annual review dates
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| Initial levels: | $177.09 for Apple and $50.36 for ETF
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| Call levels: | $141.67 for Apple and $40.29 for ETF; 80% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 22550W6U6
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