By Wendy Van Sickle
Columbus, Ohio, March 26 – Credit Suisse AG, London Branch priced $400,000 of contingent coupon callable yield notes due March 25, 2021 linked to the SPDR S&P Biotech 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 10% if the fund 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 payment date.
The payout at maturity will be par unless the fund 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
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| Underlying fund: | SPDR S&P Biotech ETF
|
| Amount: | $400,000
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| Maturity: | March 25, 2021
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| Coupon: | 10% per year, payable quarterly if fund closes at or above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless fund finishes below its knock-in level, in which case full exposure to the loss
|
| Call: | At par on any coupon payment date
|
| Initial prices: | $87.86
|
| Coupon barrier level: | $61.502; 70% of initial level
|
| Knock-in level: | $61.502; 70% of initial level
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | 0.7%
|
| Cusip: | 22552F3T7
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