By Sarah Lizee
Olympia, Wash., Sept. 13 – Credit Suisse AG, London Branch priced $535,000 of 0% CS autocallable notes due Sept. 11, 2024 linked to the Credit Suisse US Balanced 5% ER index, according to a 424B2 filing with the Securities and Exchange.
If the index closes at or above its trigger level on any annual trigger observation date, the notes will be automatically redeemed and the payout will be par plus a call premium of 5.5% per year.
The trigger level is 101.9% of the initial index level on the first trigger observation date and increases by 190 basis points each year.
If the notes are not automatically redeemed, the payout at maturity will be par plus 27.5%. Otherwise, the payout will be par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | CS autocallable notes
|
| Underlying index: | Credit Suisse US Balanced 5% ER
|
| Amount: | $535,000
|
| Maturity: | Sept. 11, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 27.5%, subject to minimum payout of par
|
| Call: | Automatically at par plus 5.5% per year if index closes at or above trigger level on any call observation date
|
| Initial level: | 229.2043
|
| Trigger levels: | 101.9% of initial level on Sept. 8, 2020, stepping up by 190 bps a year to 107.6% of initial level on Sept. 6, 2023
|
| Pricing date: | Sept. 6
|
| Settlement date: | Sept. 11
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.375%
|
| Cusip: | 22552FWA6
|
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