By Taylor Fox
New York, Feb. 8 – Credit Suisse AG, London Branch priced $1.06 million of contingent coupon autocallable securities due Oct. 7, 2022 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly at an annual rate of 10.5% if the fund closes at or above its 70% coupon barrier level on any observation date.
The notes will be called at par if the shares close at or above the initial share price on any monthly trigger observation date after six months.
The payout at maturity will be par unless the shares finish below the 60% knock-in level on any day during the life of the notes, in which case investors will be fully exposed to any losses of the fund subject to a cap of par.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon autocallable yield notes
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| Underlying fund: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,060,000
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| Maturity: | Oct. 7, 2022
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| Coupon: | 10.5% annual rate, payable monthly if the fund closes at or above its coupon barrier level on any observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below knock-in price on any day during the life of the notes, in which case full exposure to any loss of fund subject to a cap of par
|
| Call: | At par if shares close at or above initial share price on any monthly trigger observation date after six months
|
| Initial level: | $38.51
|
| Coupon barrier level: | $26.957, 70% of initial share price
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| Knock-in level: | $23.106, 60% of initial share price
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 7
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.725%
|
| Cusip: | 22552X3F8
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