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Credit Suisse plans contingent coupon autocallable yield notes on gold ETF
By Emma Trincal
New York, June 19 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Oct. 4, 2021 linked to the VanEck Vectors Gold Miners ETF, according to an FWP filing with the Securities and Exchange Commission.
If the fund shares close at or above the coupon barrier level, 70% of the initial share price, on a quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 14% per year.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial price on any quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par unless the share price finishes below its 70% knock-in level, in which case investors will lose 1% for each 1% decline of the ETF.
The agent is Credit Suisse Securities (USA) LLC.
The notes will price on June 30.
The Cusip number is 22552W7K5.
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