By Toni Weeks
San Luis Obispo, Calif., May 28 - Credit Suisse AG, London Branch priced $3.02 million of 0% absolute return barrier securities due June 2, 2020 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if the index closes at or below the knock-in level on the May 26, 2020 final valuation date. The knock-in level is 70% of the initial level.
If the final level is greater than or equal to the initial level, the payout at maturity will be par plus 123% of the return.
If the final level is less than the initial level and a knock-in event has not occurred, the payout will be par plus the absolute value of the index return.
If the final level is less than the initial level and a knock-in event has occurred, investors will be fully exposed to the decline from the initial level to the final level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $3,023,000
|
| Maturity: | June 2, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive or zero, par plus 123% of return; if index return is negative and knock-in event has not occurred, par plus absolute value of index return; if index return is negative and knock-in event has occurred, full exposure to decline in index
|
| Knock-in event: | Occurs if index closes at or below knock-in level on May 26, 2020
|
| Initial level: | 16,606.27
|
| Knock-in level: | 11,624.389, 70% of initial level
|
| Pricing date: | May 23
|
| Settlement date: | May 30
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.55%
|
| Cusip: | 22547QMH6
|
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