By Wendy Van Sickle
Columbus, Ohio, May 26 – Credit Suisse AG, London Branch priced $8.01 million of contingent coupon callable yield notes due May 27, 2025 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 quarterly contingent coupon at an annual rate of 12.3% if each fund closes at or above its coupon barrier, 75% of its initial price, on the observation date for that period.
Credit Suisse may redeem the notes at par plus the coupon on any quarterly early redemption date after six months.
The payout at maturity will be par unless any fund finishes below its 75% knock-in price, in which case investors will be fully exposed to any losses of the lesser-performing fund.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying ETFs: | VanEck Vectors Gold Miners ETF and iShares Silver trust
|
| Amount: | $8,012,000
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| Maturity: | May 27, 2025
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| Coupon: | 12.3% per year, payable quarterly if each fund closes at or above its coupon barrier on the related observation date
|
| Price: | Par
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| Payout at maturity: | Par unless any fund finishes below its knock-in price, in which case full exposure to the losses of the lesser-performing fund
|
| Call option: | At par plus coupon on any quarterly early redemption date after six months
|
| Initial prices: | $39.29 for VanEck Vectors Gold Miners and $25.53 for iShares Silver
|
| Coupon barrier prices: | $29.4675 for VanEck Vectors Gold Miners and $19.1475 for iShares Silver, 75% of initial prices
|
| Knock-in prices: | $29.4675 for VanEck Vectors Gold Miners and $19.1475 for iShares Silver, 75% of initial prices
|
| Pricing date: | May 21
|
| Settlement date: | May 26
|
| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.5%
|
| Cusip: | 22552XLV3
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