Credit Suisse plans autocallable yield notes tied to Gold Miners ETF

By Devika Patel

Knoxville, Tenn., Nov. 8 – Credit Suisse AG, London Branch plans to price autocallable yield notes due Nov. 29, 2017 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly coupon at an annual rate that is expected to fall between 9% and 11% and will be set at pricing.

The notes will be automatically called at par plus the contingent coupon if the closing level of the fund is greater than its initial level on May 24, 2017 or Aug. 24, 2017.

The payout at maturity will be par unless the fund closes below its 65% knock-in level during the life of the notes and finishes below its initial level, in which case investors will lose 1% for each 1% decline.

Credit Suisse Securities (USA) LLC is the agent.

The notes (Cusip: 22548QMM4) are expected to price Nov. 23 and settle Nov. 29.

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