Chicago, Dec. 18 – Credit Suisse AG priced $1.87 million of autocallable contingent coupon market-linked securities with contingent downside due Dec. 17, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if the underlying ETF closes at or above its 75% threshold price on the observation date for that quarter.
The notes will be called at par if the ETF closes at or above its initial level on any quarterly calculation date beginning in June 2019 and ending in September 2020.
The payout at maturity will be par unless the ETF closes below its 75% threshold price, in which case investors will be fully exposed to any losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Credit Suisse AG
|
| Issue: | Autocallable contingent coupon market-linked securities with contingent downside
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1.87 million
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| Maturity: | Dec. 17, 2020
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| Coupon: | 13% annualized, payable quarterly if ETF closes at or above 75% threshold price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF closes below 75% barrier level, in which case 1% loss for each 1% decline
|
| Call: | At par if ETF closes at or above its initial level on any quarterly review date beginning in June 2019 and ending in September 2020
|
| Initial level: | $30.44
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| Threshold price: | $22.83, 75% of initial level
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| Pricing date: | Dec. 13
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| Settlement date: | Dec. 18
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.85%
|
| Cusip: | 22551LN71
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