By Susanna Moon
Chicago, Feb. 2 – Credit Suisse AG, London Branch priced $579,000 of autocallable contingent coupon notes due July 31, 2019 linked to the least performing of the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each underlying component closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par if each component closes at or above its initial level on any call observation date.
The payout at maturity will be par unless either component ever closes below its 70% knock-in level during the life of the notes, in which case investors will be exposed to any losses of the worse performing index or fund.
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 assets: | SPDR S&P Oil & Gas Exploration & Production ETF and Russell 2000
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Amount: | $579,000
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Maturity: | July 31, 2019
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Coupon: | 10% annualized, payable quarterly if each component closes at or above its 70% coupon barrier on observation date
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Price: | Par
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Payout at maturity: | Par unless either component ever closes below 70% knock-in level, in which case 1% loss per 1% decline of worse performing index or fund
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Call: | At par if each component closes at or above its initial level on any interest payment date
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Initial levels: | 1,608.058 for Russell and $39.06 for fund
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Knock-in levels: | 1125.6406 for Russell and $27.342 for fund; 70% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | Credit Suisse Securities (USA) LLC
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Fees: | 2.125%
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Cusip: | 22550W3H8
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