By Wendy Van Sickle
Columbus, Ohio, June 16 – Credit Suisse AG, London Branch priced $150,000 of additional high/low coupon callable yield notes due June 10, 2019 linked to the worst performing of the S&P 500 index and the iShares Brazil Capped exchange-traded fund in a reopening on June 14, according to a 424B2 filing with the Securities and Exchange Commission.
Credit Suisse originally priced $1.5 million of the notes on June 6.
The notes will pay a quarterly coupon at an annual rate of 10.5% if each component closes at or above its knock-in level, 50% of its initial level, on each day of that quarter. Otherwise, the notes will pay a coupon at an annual rate of 1%.
The payout at maturity will be par unless either component finishes below its initial level and closes below its knock-in level any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the worst performing component.
The notes will be callable at par any quarterly observation date after six months.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | High/low coupon autocallable yield notes
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| Underlyings: | S&P 500 index, iShares Brazil Capped ETF
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| Reopening amount: | $150,000
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| Total issue size: | $1.65 million
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| Maturity: | June 10, 2019
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| Coupon: | 10.5% annualized if each underling component closes at or above knock-in level on observation date for that quarter; otherwise, 1% for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either component finishes below initial level and closes below knock-in level any day during life of notes, in which case 1% loss per 1% decline of worse performing component
|
| Call: | At par if each component closes at or above its initial level on any quarterly observation date
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| Initial levels: | 2,429.33 for S&P, $34.96 for fund
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| Knock-in levels: | 1,214.665 for S&P, $17.48 for fund; 50% of initial levels
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| Original pricing date: | June 6
|
| Reopening date: | June14
|
| Settlement date: | June 9
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.7%
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| Cusip: | 22550BAC7
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