By Marisa Wong
Madison, Wis., Dec. 26 – Credit Suisse AG, London Branch priced $1.21 million of 0% absolute return barrier securities due Dec. 29, 2020 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if the index finishes at or below its knock-in level, 70% of the initial level.
If the index finishes at or above the initial level, the payout at maturity will be par plus 127.5% of the return.
If the index falls and a knock-in event has not occurred, the payout will be par plus the absolute value of the return, up to a maximum amount of $1,299.99 for each $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying index: | Dow Jones industrial average
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| Amount: | $1,214,000
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| Maturity: | Dec. 29, 2020
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | If index gains, par plus 127.5% of return; if index falls by up to knock-in level, par plus absolute value of return, capped at 29.999%; otherwise, full exposure to losses
|
| Initial index level: | 17,804.80
|
| Knock-in level: | 12,463.36; 70% of initial levels
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 29
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 3.8%
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| Cusip: | 22547QYD2
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