By Wendy Van Sickle
Columbus, Ohio, Feb. 25 – Credit Suisse AG, London Branch priced $42.5 million of 0% equity-linked notes due March 2, 2028 linked to the common stock of 3M Co., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be the reference value, which is the product of the final level multiplied by a 3.91161 conversion ratio. In other words, the return on the securities will be less than 1% for every 1% increase in the underlying stock beyond a 45% percentage increase in the final level of the stock.
If the reference value is less than $1,000, meaning the final level of the stock is less than a 45% increase in the stock price, investors will receive par at maturity.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Equity-linked notes
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| Underlying stock: | 3M Co..
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| Amount: | $42.5 million
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| Maturity: | March 2, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | 3.91161 times the stock price; par if stock gains by 45% or less or decreases
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| Conversion ratio: | 3.91161
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| Initial share price: | $176.31
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | None
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| Cusip: | 22552XDE0
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