By Wendy Van Sickle
Columbus, Ohio, Feb. 9 – Credit Suisse AG priced $4.34 million of market-linked securities due Jan. 29, 2024 – autocallable with contingent coupon and contingent downside linked to the least 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 contingent monthly coupon at an annual rate of 11.5% if each ETF closes at or above its 70% coupon threshold on the observation date for that period.
The notes will be called at par if each ETF closes at or above its initial level on any monthly observation date after one year.
The payout at maturity will be par unless any ETF finishes below its 70% downside threshold, in which case the payout will be par plus the return of the worst performing ETF with full exposure to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Credit Suisse AG
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying ETFs: | VanEck Vectors Gold Miners ETF and iShares Silver Trust
|
| Amount: | $4.34 million
|
| Maturity: | Jan. 29, 2024
|
| Coupon: | 11.5% annualized, payable monthly if each ETF closes at or above coupon threshold on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF falls by more than 30%, in which case 1% loss per 1% decline of worst performing ETF
|
| Call: | At par if each ETF closes at or above its initial level on any interest payment date after one year
|
| Initial levels: | $34.58 for Gold Miners, $24.72 for Silver
|
| Coupon thresholds: | $24.206 for or Gold Miners, $17.304 for Silver; 70% of initial levels
|
| Downside thresholds: | $24.206 for or Gold Miners, $17.304 for Silver; 70% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 2
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 2.425%
|
| Cusip: | 22552X2U6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
