By Tali Rackner
Minneapolis, April 10 – Credit Suisse AG, London Branch priced $800,000 of contingent coupon autocallable yield notes due Oct. 9, 2019 linked to 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 annual rate of 9.75% if the ETF closes at or above its 70% coupon barrier 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 trigger observation date.
The payout at maturity will be par unless the fund closes below its 70% knock-in level on any day during the life of the notes, in which case investors will lose 1% for each 1% that the ETF declines.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying fund: | VanEck Vectors Gold Miners ETF
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| Amount: | $800,000
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| Maturity: | Oct. 9, 2019
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| Coupon: | 9.75% annualized, payable quarterly if the ETF closes at or above 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless the ETF closes below 70% knock-in level on any day during the life of the notes, in which case 1% loss per 1% decline
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| Call: | At par if the ETF closes at or above its initial level on any quarterly trigger observation date
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| Initial price: | $21.87
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| Knock-in/barrier levels: | $15.309; 70% of initial price
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| Pricing date: | April 4
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| Settlement date: | April 9
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.825%
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| Cusip: | 22550WM20
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