By Angela McDaniels
Tacoma, Wash., July 22 – Credit Suisse AG, London Branch priced $1.15 million of 0% absolute return barrier securities due July 27, 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 the 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 133% 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
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Issue: | Absolute return barrier securities
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Underlying index: | Euro Stoxx 50
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Amount: | $1,152,000
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Maturity: | July 27, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive or zero, par plus 133% 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
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Knock-in event: | Final index level is less than or equal to knock-in level
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Initial index level: | 3,164.21
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Knock-in level: | 1,898.526, 60% of initial level
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Pricing date: | July 18
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Settlement date: | July 25
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Underwriter: | Credit Suisse Securities (USA) LLC
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Fees: | 3.55%
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Cusip: | 22547QNM4
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