By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – Credit Suisse AG, London Branch priced $12.82 million of 0% autocallable market-linked step-up notes due Nov. 19, 2021 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annual call premium of 17.35% if the index closes at or above the initial level on Dec. 5, 2019 or Nov. 19, 2020.
If the notes are not called and the index finishes above the step-up value, 135% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 35%.
Investors will be fully exposed to any index decline.
BofA Merrill Lynch is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $12,816,710
|
| Maturity: | Nov. 19, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 35%; 1% loss for each 1% decline of the index
|
| Call: | Automatically at par plus an annual call premium of 17.35% if the index closes at or above the initial level on Dec. 5, 2019 or Nov. 19, 2020
|
| Initial index level: | 3,174.16
|
| Step-up value: | 4,285.12, 135% of initial value
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 7
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 22548Y397
|
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