By Wendy Van Sickle
Columbus, Ohio, Dec. 24 – Credit Suisse AG, London Branch priced $22.33 million of 0% autocallable market-linked step-up notes due Dec. 29, 2022 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 plus an annual call premium of 12.6% if the index closes at or above its initial level on any annual call date.
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 Securities, Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $22,333,760
|
| Maturity: | Dec. 29, 2022
|
| 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%; full exposure to losses
|
| Call: | At par plus 12.6% per year if the index closes at or above its initial level on any annual observation date
|
| Initial index level: | 3,739.17
|
| Step-up value: | 5,047.88, 135% of initial value
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 30
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 22550J825
|
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