By Sarah Lizee
Olympia, Wash., July 3 – Credit Suisse AG, London Branch priced $750,000 of contingent coupon autocallable yield notes due June 29, 2020 linked to the SPDR S&P Oil & Gas Exploration &Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter the notes will pay a contingent coupon at an annual rate of 11% if the fund closes at or above the coupon barrier, 70% of the initial level, for that period.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial price on any quarterly trigger observation date.
The payout at maturity will be par unless the shares finish below the initial level and ever close below the 70% knock-in level, in which case investors will be fully exposed to the losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration &Production ETF
|
| Amount: | $750,000
|
| Maturity: | June 29, 2020
|
| Contingent payment: | 11% per year, payable quarterly if fund closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below initial level and ever closes below knock-in level, in which case full exposure to the losses
|
| Call: | Automatically at par plus contingent payment if fund closes at or above initial price on any quarterly trigger observation date
|
| Initial price: | $25.99
|
| Coupon barrier: | $18.193, 70% of initial price
|
| Knock-in level: | $18.193, 70% of initial price
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.125%
|
| Cusip: | 22552FH54
|
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