By Wendy Van Sickle
Columbus, Ohio, April 13 – Credit Suisse AG, London Branch priced $96,000 of contingent coupon autocallable yield notes due April 4, 2022 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 19.54% if each fund closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be automatically redeemed if both funds close above their initial prices on a quarterly trigger observation date after six months.
The payout at maturity will be par unless either fund finishes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing fund.
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 funds: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $96,000
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Maturity: | April 4, 2022
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Coupon: | 19.54% per year, payable quarterly if each fund closes at or above its coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par unless either fund finishes below its knock-in level, in which case investors will be fully exposed to any losses of least-performing fund
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Call: | At par on any quarterly trigger observation date after six months
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Initial prices: | $30.39 for Gold Miners, $82.31 for Oil & Gas
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Coupon barrier levels: | $13.824 for Gold Miners, $19.74 for Oil & Gas; 60% of initial levels
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Knock-in levels: | $13.824 for Gold Miners, $19.74 for Oil & Gas; 60% of initial levels
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 0.75%
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Cusip: | 22551NUG9
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