By Taylor Fox
New York, Dec. 21 – Credit Suisse AG, London Branch priced $951,000 of contingent coupon callable yield notes due Dec. 15, 2022 linked to the shares of the VanEck Vectors Gold Miners 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 10% if the ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any quarterly early redemption date starting June 16, 2021.
The payout at maturity will be par unless the ETF finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses, payable in either shares or cash.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $951,000
|
| Maturity: | Dec. 15, 2022
|
| Coupon: | 10% per year, payable quarterly if ETF closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below its knock-in level, in which case full exposure to loss, payable in either shares or cash
|
| Call: | At par on any quarterly early redemption date starting June 16, 2021
|
| Initial prices: | $35.08
|
| Coupon barrier level: | $24.556; 70% of initial level
|
| Knock-in level: | $24.556; 70% of initial level
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 16
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22550MMX4
|
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