By Susanna Moon
Chicago, May 4 – Credit Suisse AG, London Branch priced $800,000 of contingent coupon callable yield notes due April 30, 2020 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.4% if the underlying asset closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly review date.
The payout at maturity will be par unless the fund finishes below its 75% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon callable yield notes
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| Underlying asset: | VanEck Vectors Gold Miners ETF
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| Amount: | $800,000
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| Maturity: | April 30, 2020
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| Coupon: | 8.4% annualized, payable quarterly if fund closes at or above 75% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless fund closes below 75% knock-in level, in which case 1% loss per 1% decline
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| Call option: | At par on any quarterly review date
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| Initial level: | $22.50
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| Trigger level: | $16.875, 75% of initial level
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 1.75%
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| Cusip: | 22550WQH3
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