New Issue: Credit Suisse sells $539,000 of 9.5% autocallable yield notes on gold miners ETF

By Tali Rackner

Norfolk, Va., Dec. 8 – Credit Suisse AG, London Branch priced $539,000 of 9.5% 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.

Interest is payable monthly.

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 price during the life of the notes and finishes below its initial price, in which case investors will lose 1% for each 1% decline.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Autocallable yield notes
Underlying ETF:	Market Vectors Gold Miners ETF
Amount:	$539,000
Maturity:	Nov. 29, 2017
Coupon:	9.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless fund closes at or below knock-in price during life of the notes and finishes below initial share price, in which case investors will lose 1% for each 1% decline
Call:	At par plus contingent coupon if fund closes at or above initial share price on May 24, 2017 or Aug. 24, 2017
Initial price:	$20.50
Knock-in price:	$13.325, 65% of initial share price
Pricing date:	Nov. 23
Settlement date:	Nov. 29
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.35%
Cusip:	22548QMM4

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.