By Angela McDaniels
Tacoma, Wash., June 24 – Credit Suisse AG, London Branch priced $4.68 million of 0% absolute return barrier securities due June 25, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event will occur if the final index level is less than or equal to its knock-in level, 60% of the initial level.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 150% of the index return.
If the final index level is less than the initial index 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 index level and a knock-in event has occurred, investors will be fully exposed to the decline from the initial index level to the final index level.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Absolute return barrier securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $4,683,000
|
| Maturity: | June 25, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive or zero, par plus 150% of index 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: | Index closes at or below knock-in level on June 22, 2020
|
| Initial index level: | 3,302.36
|
| Knock-in level: | 1,981.416, 60% of initial level
|
| Pricing date: | June 20
|
| Settlement date: | June 25
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.8%
|
| Cusip: | 22547QP75
|
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