By Susanna Moon
Chicago, March 6 – Credit Suisse AG, London Branch priced $2.62 million of contingent coupon autocallable yield notes due Feb. 22, 2021 linked to the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.49% if the fund closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the fund closes at or above its initial level on any interest payment date.
The payout at maturity will be par unless the fund finishes below its 65% 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
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying fund: | VanEck Vectors Junior Gold Miners ETF
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| Amount: | $2.62 million
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| Maturity: | Feb. 22, 2021
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| Coupon: | 7.49% annualized, payable quarterly if fund closes at or above its 70% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless fund ends below 65% knock-in level, in which 1% loss per 1% decline
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| Call: | At par if fund closes at or above its initial level on any interest payment date beginning May 16, 2018
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| Initial level: | $33.55
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| Coupon barrier: | $23.485, 70% of initial level
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| Knock-in level: | $21.8075, 65% of initial level
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | Credit Suisse Securities (USA) LLC
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| Fees: | 3%
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| Cusip: | 22550WDE4
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