By Kiku Steinfeld
Chicago, March 23 – Credit Suisse AG, London Branch priced $2 million of contingent coupon autocallable yield notes due March 15, 2023 linked to the least performing of the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annual rate of 7.3% if each asset closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be called at par if each asset closes at or above its initial level on any quarterly trigger observation date after six months.
The payout at maturity will be par unless any asset finishes below its 50% knock-in level, in which case investors will be fully exposed to the losses of the least-performing asset.
The agent is Credit Suisse Securities (USA) LLC.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying assets: | iShares Silver Trust and VanEck Vectors Gold Miners ETF
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| Amount: | $2 million
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| Maturity: | March 15, 2023
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| Coupon: | 7.3% per year, payable quarterly if each asset closes at or above its coupon barrier level on observation date
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its knock-in level, in which case full exposure to the losses of the least-performing asset
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| Call: | Automatically at par if each asset closes at or above initial level on any quarterly trigger observation date after six months
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| Initial prices: | $32.43 for Gold and $24.32 for Silver
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| Coupon barrier levels: | $22.70 for Gold and $17.024 for Silver; 70% of initial levels
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| Knock-in levels: | $16.215 for Gold and $12.16 for Silver; 50% of initial levels
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 0.45%
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| Cusip: | 22552XFU2
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