Chicago, April 16 – Credit Suisse AG, London Branch priced $4.42 million of contingent coupon callable yield notes due March 16, 2023 linked to the shares of the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 11% if the ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
Credit Suisse may redeem the notes at par on any quarterly early redemption date after six months.
The payout at maturity will be par unless the ETF finishes below its 70% knock-in level, in which case investors will be fully exposed to any losses.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying ETF: | Energy Select Sector SPDR Fund
|
| Amount: | $4,415,000
|
| Maturity: | March 16, 2023
|
| Coupon: | 11% per year, payable quarterly if ETF closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below its knock-in level, in which case full exposure to losses
|
| Call: | At par on any quarterly early redemption date after six months
|
| Initial prices: | $53.57
|
| Coupon barrier level: | $37.499; 70% of initial level
|
| Knock-in level: | $37.499; 70% of initial level
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.75%
|
| Cusip: | 22552XG56
|
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