By Kiku Steinfeld
Chicago, Nov. 5 – Credit Suisse AG, London Branch priced $4.67 million of 0% autocallable securities due Oct. 14, 2026 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 7.15% per year if the ETF closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and the ETF’s final level is equal to or greater than its initial level, the payout will be par of $10 plus 35.75%. If the ETF falls, investors will lose 1% for each 1% decline.
Credit Suisse Securities (USA) LLC is the agent. Morgan Stanley Smith Barney LLC is the distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable securities
|
| Underlying asset: | SPDR S&P Regional Banking ETF
|
| Amount: | $4,665,820
|
| Maturity: | Oct. 14, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final level is equal to or greater than initial level, par plus 35.75%; otherwise, 1% loss for each 1% decline of lesser performing underlier from initial level
|
| Call: | Automatically at par plus an annualized rate of 7.15% if ETF closes at or above its initial level on any quarterly observation date after one year
|
| Initial level: | $70.71
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 14
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 3.5%
|
| Cusip: | 22551G275
|
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