By Emma Trincal
New York, Oct. 13 – Credit Suisse AG, London Branch priced $1 million of contingent coupon buffered autocallable yield notes due Oct. 13, 2023 linked to the least performing of the VanEck Vectors Gold Miners ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 15.5% if each asset closes at or above its 80% coupon barrier on the related quarterly observation date.
The notes will be called at par if each asset closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless either asset falls by more than 10%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond the 10% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon buffered autocallable yield notes
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| Underlying assets: | VanEck Vectors Gold Miners ETF and iShares MSCI EAFE ETF
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| Amount: | $1 million
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| Maturity: | Oct. 13, 2023
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| Coupon: | 15.5% annualized, payable quarterly if each asset closes at or above its coupon barrier on related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless either asset falls by more than buffer level, in which case 1% loss for each 1% decline of worse performing asset beyond buffer
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| Call: | At par if each asset closes at or above initial level on any quarterly call observation date after one year
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| Initial levels: | $38.35 for gold ETF, $64.72 for EAFE ETF
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| Coupon barriers: | $30.68 for gold ETF, $51.776 for EAFE ETF; 80% of initial levels
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| Buffer levels: | $34.515 for gold ETF, $58.248 for EAFE ETF; 90% of initial levels
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| Agent: | Credit Suisse Securities (USA) LLC
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| Pricing date: | Oct. 7
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| Settlement date: | Oct. 13
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| Fees: | 0.75%
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| Cusip: | 22552WPF6
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