By Wendy Van Sickle
Columbus, Ohio, March 29 – Credit Suisse AG, London Branch priced $714,000 of contingent coupon autocallable yield notes due June 28, 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 9% 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 a quarterly call date after six months.
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: | $714,000
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| Maturity: | June 28, 2019
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| Coupon: | 9% per year, payable monthly if ETF closes at or above its barrier level on observation date
|
| 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
|
| Call: | At par if ETF closes above initial price on a quarterly call date after six months
|
| Initial price: | $91.05
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| Barrier level/knock-in price: | $63.735; 70% of initial price
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| Pricing date: | March 26
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| Settlement date: | March 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.5%
|
| Cusip: | 22550WFY8
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