By Kiku Steinfeld
Chicago, Oct. 26 – Credit Suisse AG, London Branch priced $1.06 million of contingent coupon autocallable yield notes due Oct. 23, 2023 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 14.1% if each fund closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period.
The notes will be automatically redeemed if both funds close above their initial prices on any quarterly trigger observation date.
The payout at maturity will be par unless either fund finishes below its 65% knock-in level, in which case investors will be fully exposed to the losses of the least-performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying funds: | VanEck Vectors Gold Miners ETF and iShares Silver trust
|
| Amount: | $1,061,000
|
| Maturity: | Oct. 23, 2023
|
| Coupon: | 14.1% per year, payable monthly if each fund closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either fund finishes below its knock-in level, in which case investors will be fully exposed to losses of least-performing fund
|
| Call: | Automatically at par if both funds close above their initial prices on any quarterly trigger observation date
|
| Initial prices: | $39.46 for Gold Miners, $23.02 for Silver Trust
|
| Coupon barrier levels: | $25.649 for Gold Miners, $14.963 for Silver Trust; 65% of initial levels
|
| Knock-in levels: | $25.649 for Gold Miners, $14.963 for Silver Trust; 65% of initial levels
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.75%
|
| Cusip: | 22552WQC2
|
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