By Taylor Fox
New York, Feb. 22 – Credit Suisse AG, London Branch priced $738,000 of 0% autocallable securities due Jan. 28, 2025 linked to the lowest performing of the stocks of Fastly, Inc., Palantir Technologies Inc. and SolarEdge Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized redemption premium of 47% if each stock finishes above 90% of its initial level on any semiannual observation date after one year.
If the notes are not called and the final level of each stock is equal to or greater than 90% of its initial level, the payout at maturity will be par plus 188%.
Investors will receive par if the worst performing stock declines more than 10% but not more than 50% from its initial level.
If the final level of any stock is less than its 50% 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.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying stocks: | Fastly, Inc., Palantir Technologies Inc. and SolarEdge Technologies, Inc.
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| Amount: | $738,000
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| Maturity: | Jan. 28, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all stocks finish above 90% of initial level, par plus 188%; par if worst performer declines more than 10% but less than 50% from initial level; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus 47% annualized premium if each stock finishes above 90% of its initial level on any semiannual observation date after one year
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| Initial levels: | $105.21 for Fastly, $36.23 for Palantir and $310.12 for SolarEdge
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| Knock-in levels: | $52.605 for Fastly, $18.115 for Palantir and $155.06 for SolarEdge; 50% of initial levels
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| Threshold levels: | $94.689 for Fastly, $32.607 for Palantir and $279.108 for SolarEdge, 90% of initial levels
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
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| Cusip: | 22552X4G5
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