By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Credit Suisse AG, London Branch priced $1 million of 0% autocallable securities due Nov. 19, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 4.25% if the index closes at or above 90% of the initial level on May 7, 2021.
If the final index level is greater than or equal to the initial level, the payment at maturity will be par plus 200% of the index return.
If the index declines by up to 20%, the payout will be par.
If it declines by more than 20%, investors will be exposed to the decline.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Autocallable securities
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| Underlying index: | S&P 500
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| Amount: | $1 million
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| Maturity: | Nov. 19, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is greater than or equal to initial level, par plus 200% of index return; if the index declines by up to 20%, par; if it declines by more than 20%, investors will be exposed to the decline
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| Call: | At par plus 4.25% per year if index closes at or above 90% of its initial level on May 7, 2021
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| Initial level: | 3,509.44
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| Knock-in level: | 2,807.55; 80% of initial level
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 22552WS30
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