By Susanna Moon
Chicago, July 9 – Credit Suisse AG, London branch priced $1.02 million of market-linked securities due June 29, 2020 – autocallable with contingent coupon and contingent downside linked to the iShares MSCI Brazil 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 12.3% if the underlying fund closes at or above its 70% coupon threshold on each trading day for that quarter.
The notes are called at par if the fund closes at or above its initial level on any determination date.
The payout at maturity will be par unless the fund closes below its 70% downside threshold, in which case investors will be fully exposed to any losses.
Wells Fargo Securities LLC is the agent.
| Issuer: | Credit Suisse AG, London branch
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying fund: | iShares MSCI Brazil ETF
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| Amount: | $1.02 million
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| Maturity: | June 29, 2020
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| Coupon: | 12.3% annualized, payable quarterly if fund closes at or above 70% coupon barrier on each trading day for that quarter
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| Price: | Par
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| Payout at maturity: | If fund closes above threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any determination date from December 2018 to March 2020
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| Initial level: | $31.89
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| Trigger level: | $22.323, 70% of initial level
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.07%
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| Cusip: | 22550WWL7
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