By Wendy Van Sickle
Columbus, Ohio, July 2 – Credit Suisse AG, London Branch priced $32,000 of contingent coupon autocallable yield notes due Sept. 30, 2021 linked to shares of the VanEck Vectors Gold Miners ETF, 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 quarterly observation date, the notes will pay a contingent payment for that quarter at a rate of 11% 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 quarterly trigger observation date.
If the notes are not called, the payout at maturity will be par plus any coupon unless the share price finishes below its 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
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
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| Amount: | $32,000
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| Maturity: | Sept. 30, 2021
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| Contingent payment: | 11% per year, payable quarterly if ETF closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless the share price finishes below knock-in, in which case investors will lose 1% for each 1% decline of the ETF
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| Call: | Automatically at par plus contingent coupon if the ETF closes at or above its initial price on any quarterly trigger observation date
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| Initial share price: | $34.96
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| Coupon barrier: | $24.472, 70% of initial share price
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| Knock-in price: | $24.472, 70% of initial share price
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 2.125%
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| Cusip: | 22552W7J8
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