By Susanna Moon
Chicago, April 20 – Credit Suisse AG, London Branch priced $500,000 of contingent coupon callable yield notes due April 18, 2022 linked to the lesser performing of the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.2% if the fund closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any interest payment date after one year.
The payout at maturity will be par unless the fund closes below its 70% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying fund: | iShares MSCI Emerging Markets ETF
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| Amount: | $500,000
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| Maturity: | April 18, 2022
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| Coupon: | 7.2% annualized, payable quarterly if fund closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless fund closes below 70% knock-in level, in which case 1% loss per 1% decline
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| Call option: | At par on any interest payment date beginning April 15, 2019
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| Initial level: | $47.57
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| Trigger level: | $33.299, 70% of initial level
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| Pricing date: | April 13
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| Settlement date: | April 18
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22550WPR2
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