Credit Suisse to price contingent coupon callable yield notes on ETFs

By Sarah Lizee

Olympia, Wash., June 12 – Credit Suisse AG, London Branch plans to price contingent coupon callable yield notes due July 5, 2022 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual contingent coupon at an annual rate of 11.75% if each fund closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.

Credit Suisse may redeem the notes at par on any contingent coupon payment date after six months.

The payout at maturity will be par unless either fund closes below its 60% knock-in level, in which case investors will be fully exposed to any losses of the least-performing fund.

Credit Suisse Securities (USA) LLC is the agent.

The notes will price on June 28.

The Cusip number is 22552FGL0.

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