Credit Suisse plans contingent coupon callable yield notes on gold ETF

By Toni Weeks

San Luis Obispo, Calif., Nov. 21 - Credit Suisse AG plans to price contingent coupon callable yield notes due Nov. 30, 2015 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund closes at or above its coupon barrier level, 65% of its initial level, on a quarterly observation date, the notes will pay a coupon that quarter at a rate that is expected to be 12.5% per year and will be set at pricing.

The payout at maturity will be par unless the fund falls below its 65% knock-in level on the Nov. 24, 2015 valuation date, in which case investors will be fully exposed to the decline in the ETF's share price.

Beginning Feb. 28, the notes will be callable at par on any interest payment date.

The notes (Cusip: 22547QDS2) are expected to price Nov. 26 and settle Nov. 29.

Barclays is the agent.

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