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Credit Suisse plans contingent coupon autocallables on Gold Miners
By Susanna Moon
Chicago, Aug. 28 – Credit Suisse AG, London Branch plans to price contingent coupon autocallable yield notes due Dec. 12, 2018 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 7.15% if the fund closes at or above its 65% coupon barrier on the observation date for that month.
The notes will be called at par if the fund closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless the fund ever closes below its 65% knock-in level during the life of the notes, in which case investors will receive par plus the return, up to a maximum payout of par.
Credit Suisse Securities (USA) LLC is the agent.
The notes will price on Sept. 7.
The Cusip number is 22550BFR9.
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