By Tali Rackner
Minneapolis, March 15 – Credit Suisse AG, London Branch priced $171,000 of contingent coupon autocallable yield notes due March 5, 2019 linked to the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 10% if the ETF closes at or above its barrier level, 70% of its initial price, on a monthly observation date.
The notes will be called at par if the ETF closes above its initial price on Aug. 30 or Nov. 30, 2018.
The payout at maturity will be par unless the ETF finishes below its initial price and closes below its 70% knock-in level during the life of the notes, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying ETF: | SPDR S&P Biotech ETF
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| Amount: | $171,000
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| Maturity: | March 5, 2019
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| Coupon: | 10% per year, payable monthly if ETF closes at or above its barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless ETF finishes below its initial price and ever closes below its knock-in level during life of notes, in which case full exposure to any losses
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| Call: | At par if ETF closes above initial price on Aug. 30 or Nov. 30, 2018
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| Initial price: | $90.36
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| Barrier level/knock-in price: | $63.252; 70% of initial price
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.85%
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| Cusip: | 22550WBN6
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