By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Credit Suisse AG, London Branch priced $29.08 million of autocallable market-linked step-up notes due Nov. 27, 2023 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley.
The notes will be called at par of $10 plus an annualized call premium of 15.2% if the basket closes at or above the initial level on either annual observation date.
If the notes are not called and the basket finishes above the step-up value, 145% of the initial level, the payout at maturity will be par plus the basket gain.
If the basket finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 45%.
Investors will be exposed to any losses.
BofA Securities, Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
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| Underlying basket: | Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley, equal weights
|
| Amount: | $29,075,890
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| Maturity: | Nov. 27, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the basket finishes above the step-up level, par plus the basket gain; if the basket gains up to the step-up level, par plus 45%; 1% loss for each 1% decline
|
| Call: | At par plus 15.2% per year if the basket closes at or above its initial level on either annual observation date
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| Initial stock levels: | $57.06 for Citi, $123.32 for JPMorgan, $63.60 for Morgan Stanley
|
| Pricing date: | Nov. 24
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| Settlement date: | Dec. 2
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 2%
|
| Cusip: | 22550J619
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