By Wendy Van Sickle
Columbus, Ohio, May 25 – Credit Suisse AG, London Branch priced $9.13 million of market-linked securities due May 29, 2020 – autocallable with contingent coupon and contingent downside linked to the iShares MSCI Brazil 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 13% if the fund closes at or above its 75% coupon threshold on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the fund finishes below its 75% downside threshold, in which case the payout will be par plus the return with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying fund: | iShares MSCI Brazil exchange-traded fund
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| Amount: | $9,125,000
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| Maturity: | May 29, 2020
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| Coupon: | 13%, payable quarterly if fund closes above threshold on calculation date
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| Price: | Par
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| Payout at maturity: | Par unless fund falls by more than 25%, in which case 1% loss for every 1% decline
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| Call: | At par if fund closes at or above initial level on any quarterly calculation date after six months
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| Initial level: | $38.64
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| Threshold price: | $28.98, 75% of initial price
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| Pricing date: | May 23
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| Settlement date: | May 29
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.25%
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| Cusip: | 22550WSJ7
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