By Marisa Wong
Los Angeles, Dec. 7 – Credit Suisse AG, London Branch priced $3.25 million of 0% relative performance securities due May 4, 2022 linked to the performance of the Russell 1000 Value index as compared to the Russell 1000 Growth index, according to a 424B2 filing with the Securities and Exchange Commission.
The relative performance is the return of the Russell 1000 Value index minus the return of the Russell 1000 Growth index.
If the return of the Russell 1000 Value is greater than the return of the Russell 1000 Growth, then the payout at maturity will be par plus the relative performance, capped at $1,180 per $1,000 principal amount.
Otherwise, investors will lose 1% for every 1% by which the return of the Russell 1000 Value is less than the return of the Russell 1000 Growth, subject to a minimum payout of $800 for each $1,000 principal amount.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Relative performance notes
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| Underlying indexes: | Russell 1000 Value index and Russell 1000 Growth index
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| Amount: | $3.25 million
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| Maturity: | May 4, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of the Russell 1000 Value minus the return of the Russell 1000 Growth is positive, par plus the relative performance, capped at par plus 18%; otherwise, 1% loss for every 1% by which the return of the Russell 1000 Value is less than the return of the Russell 1000 Growth, subject to a minimum payout of 80% of par
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| Relative performance: | Return of the Russell 1000 Value index minus the return of the Russell 1000 Growth index
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| Initial levels: | 1,172.585 for Russell Value and 2,120.148 for Russell Growth
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 9
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| Underwriter: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.31%
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| Cusip: | 22552WQP3
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