New Issue: Credit Suisse sells $2.6 million autocallable securities on index, ETF

By Wendy Van Sickle

Columbus, Ohio, Dec. 4 – Credit Suisse AG, London Branch priced $2.6 million of 0% autocallable securities due Nov. 29, 2023 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Credit Suisse will call the notes at par of $1,000 plus a call premium of 14% per year if the closing level of each asset is greater than or equal to its trigger level on any annual call date.

If each asset finishes at or above 60% of its initial level, the payout at maturity will be $1,560 per $1,000 of notes.

Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable securities
Underlying assets:	S&P 500 index, SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$2.6 million
Maturity:	Nov. 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes at or above knock-in level, $1,560 per $1,000 of notes; otherwise, investors will lose 1% for each 1% decline of the worst performing asset from initial level
Call:	Automatically at par plus annualized premium of 14% if each asset closes at or above initial level on any annual call date
Initial levels:	3,110.29 for S&P and $21.05 for ETF
Knock-in levels:	1,866.174 for S&P and $12.63 for ETF; 60% of initial levels
Pricing date:	Nov. 22
Settlement date:	Nov. 29
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0%
Cusip:	22551N4K9

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