New Issue: Credit Suisse sells $1.25 million accelerated barrier notes on gold, silver trusts

By Taylor Fox

New York, Nov. 11 – Credit Suisse AG, London Branch priced $1.25 million of 0% accelerated barrier notes due Oct. 19, 2023 linked to the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If each ETF finishes at or above its initial level, the payout at maturity will be par plus 1.365 times the return of the worse-performing ETF.

If the worse-performing ETF falls by up to 40%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worse-performing ETF.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Accelerated barrier notes
Underlying funds:	SPDR Gold Trust and iShares Silver Trust
Amount:	$1,250,000
Maturity:	Oct. 19, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.365 times any gain of worse-performing ETF; if worse-performing ETF falls by up to 40%, par; otherwise, full exposure to worse-performing ETF’s decline
Initial levels:	$178.27 for gold, $22.54 for silver
Knock-in levels:	$106.962 for gold, $13.524 for silver, 60% of initial level
Pricing date:	Oct. 14
Settlement date:	Oct. 19
Agent:	Credit Suisse Securities (USA) LLC
Fees:	2.95%
Cusip:	22552WPW9

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