Basics of creating a table and refreshing it via a mysql event
Wrap both statements in BEGIN and END, like:

CREATE EVENT e_daily
    ON SCHEDULE
      EVERY 1 DAY
    COMMENT 'Saves total number of sessions then clears the table each day'
    DO
      BEGIN
        INSERT INTO site_activity.totals (time, total)
          SELECT CURRENT_TIMESTAMP, COUNT(*)
            FROM site_activity.sessions;
        DELETE FROM site_activity.sessions;
      END 


Taken from a quick perusal of the MySQL Create Event page.

So, your code might become:

CREATE EVENT e_daily
    ON SCHEDULE
      EVERY 1 DAY
    COMMENT 'blah'
    DO
      BEGIN
          DROP TABLE IF EXISTS compdist1.comp_CL1;
          CREATE TABLE compdist1.comp_CL1 
          AS 
          SELECT * 
          FROM compdist1.prices_CL_analysis;
      END 


Also redefine the MySQL delimiter temporarily before the CREATE EVENT … to a different symbol and use the declared symbol at the end of the definition so that MySQL can pass the entire CREATE EVENT statement to the server. Redefine it back to ; after the definition, like this:

DELIMITER $$

CREATE EVENT e_daily
    ON SCHEDULE
      EVERY 1 DAY
    COMMENT 'blah'
    DO
      BEGIN
          …
      END$$

DELIMITER ;


This is needed when passing compound statements. Since the event body contains more than one statement, you event definition now qualifies as a compound statement. More information at the MySQL Defining Stored Programs page.