By Marisa Wong
Madison, Wis., Dec. 2 - Credit Suisse AG, London Branch priced $2.65 million of contingent coupon callable yield notes due Nov. 30, 2015 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above its coupon barrier level, 65% of its initial level, on a quarterly observation date, the notes will pay a coupon that quarter at a rate of 13.25% per year.
The payout at maturity will be par unless the fund finishes below its 65% knock-in level, in which case investors will be fully exposed to the decline in the ETF's share price.
The notes will be callable at par on any interest payment date.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying ETF: | Market Vectors Gold Miners ETF
|
| Amount: | $2.65 million
|
| Maturity: | Nov. 30, 2015
|
| Coupon: | 13.25% per year, payable quarterly if fund closes at or above barrier level on observation date that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below barrier level, in which case investors will be fully exposed to decline in ETF's share price
|
| Call option: | At par on any interest payment date
|
| Initial level: | $21.66
|
| Barrier level: | $14.079, 65% of initial level
|
| Pricing date: | Nov. 26
|
| Settlement date: | Nov. 29
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
|
| Cusip: | 22547QDS2
|
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