New Issue: Credit Suisse sells $500,000 accelerated barrier notes on gold, oil & gas ETFs

By Marisa Wong

Morgantown, W.Va., July 30 – Credit Suisse AG, London Branch priced $500,000 of 0% accelerated barrier notes due Jan. 29, 2020 linked to the lowest performing of the VanEck Vectors Gold Miners exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each ETF finishes at or above its initial level, the payout at maturity will be par plus 180% of the return of the lesser performing ETF.

If either ETF falls but neither finishes below its 70% knock-in level, the payout will be par.

Otherwise, investors will be fully exposed to the decline of the lesser performing ETF.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Accelerated barrier notes
Underlying ETFs:	VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$500,000
Maturity:	Jan. 29, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser performing ETF finishes at or above its initial price, par plus 180% of that ETF’s return; if lesser performing ETF falls by up to 30%, par; otherwise, full exposure to decline of lesser performing ETF
Initial prices:	$21.80 for gold ETF, $42.99 for oil ETF
Knock-in prices:	$15.26 of gold ETF, $30.093 for oil ETF; 70% of initial prices
Pricing date:	July 25
Settlement date:	July 27
Agent:	Credit Suisse Securities (USA) LLC
Fees:	3.25%
Cusip:	22550WZB6

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