By Susanna Moon
Chicago, June 8 – Credit Suisse AG, London Branch priced $575,000 of contingent coupon autocallable yield notes due Nov. 30, 2017 linked to the lesser performing of the American Depositary Shares of Alibaba Group Holding Ltd. and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 14.8% if each component closes at or above its 80% coupon barrier on the observation date for that quarter.
The notes will be called at par if each component closes at or above its initial level on Aug. 29, 2017.
If each component finishes at or above its 80% knock-in level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worse performing component.
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 assets: | Alibaba Group Holding Ltd. (Symbol: BABA) and the VanEck Vectors Gold Miners ETF
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| Amount: | $575,000
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| Maturity: | Nov. 30, 2017
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| Contingent coupon: | 14.8% per year, payable quarterly if each component closes at or above 80% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each component finishes at or above 80% knock-in, par plus final coupon; otherwise, full exposure to losses of worse performing component
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| Call: | At par if each component closes at or above its initial level on Aug. 29, 2017
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| Initial levels: | $123.63 for stock, $22.71 for fund
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| Knock-in levels: | $98.904 for stock, $18.168 for fund; 80% of initial levels
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| Strike date: | May 25
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| Pricing date: | May 26
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| Settlement date: | May 31
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2%
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| Cusip: | 22549JHB9
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