New Issue: Credit Suisse sells $4.35 million trigger step securities on S&P 500, Russell 2000

By Kiku Steinfeld

Chicago, May 3 – GS Finance Corp. priced $4.35 million of 0% trigger step securities due April 20, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the laggard index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the laggard index’s return and 34.5%.

Investors will receive par if the laggard index falls by up to 25% and will be fully exposed to all losses if the laggard index finishes below the 75% downside threshold level.

UBS Financial Services Inc. is the distributor.

Issuer:	Credit Suisse AG, London Branch
Issue:	Trigger step securities
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$4,347,010
Maturity:	April 20, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the laggard index finishes at or above the initial level, par plus the greater of the laggard index’s return and 34.5%; par if the laggard index falls by up to 25%; full exposure to losses if the laggard index finishes below the 75% downside threshold level
Initial index levels:	4,170.42 for S&P, 2,257.068 for Russell
Downside thresholds:	3,127.82 for S&P, 1,692.801 for Russell; 75% of initial levels
Pricing date:	April 15
Settlement date:	April 20
Distributor:	UBS Financial Services Inc.
Fees:	3.5%
Cusip:	22551F780

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