By Kiku Steinfeld
Chicago, Oct. 26 – Credit Suisse AG, London Branch, priced $517,000 of contingent coupon autocallable yield notes due Jan. 24, 2022 linked to VanEck Vectors Gold Miners ETF common shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above the coupon barrier level, 70% of the initial share price, on a monthly observation date, the notes will pay a contingent payment for that period at a rate of 9.6% 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 monthly trigger observation dates after three months.
If the notes are not called, the payout at maturity will be par unless the share price finishes below the 70% knock-in level, in which case investors will lose 1% for each 1% decline of the ETF.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $517,000
|
| Maturity: | Jan. 24, 2022
|
| Contingent payment: | 9.6% per year, payable monthly if ETF closes at or above coupon barrier level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the share price finishes below 70% knock-in price, in which case investors will lose 1% for each 1% decline of the ETF
|
| Call: | Automatically at par plus contingent coupon if the ETF closes at or above its initial price on any monthly trigger observation date after three months
|
| Initial share price: | $39.46
|
| Coupon barrier/knock-in price: | $27.622, 70% of initial share price
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 23
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 2.225%
|
| Cusip: | 22552WQA6
|
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