By Sarah Lizee
Olympia, Wash., Dec. 3 – Credit Suisse AG, London Branch priced $2.22 million of contingent coupon callable yield notes due Nov. 25, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annualized rate of 9.5% if the asset closes at or above its barrier level, 70% of its initial level, on a quarterly observation date.
The notes may be called on any quarterly call observation date.
The payout at maturity will be par unless the asset finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
Issuer: | Credit Suisse AG, London Branch
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Issue: | Contingent coupon callable yield notes
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Underlying asset: | VanEck Vectors Gold Miners ETF
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Amount: | $2,223,000
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Maturity: | Nov. 25, 2022
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Coupon: | 9.5% per year, payable quarterly if asset closes at or above its barrier level on observation date
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Price: | Par
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Payout at maturity: | Par unless asset finishes below its knock-in level, in which case full exposure to any losses
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Call option: | At par on any quarterly call observation date
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Initial price: | $27.23
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Barrier/knock-in level: | $19.061; 70% of initial price
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Pricing date: | Nov. 19
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Settlement date: | Nov. 22
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 1.75%
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Cusip: | 22549J3P3
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