By Marisa Wong
Morgantown, W.Va., Oct. 10 – Credit Suisse AG, London Branch priced $9.67 million of autocallable buffered return equity securities due March 4, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
During the first year, the notes will pay a contingent monthly coupon at a rate of 5.75% per year unless the fund closes below its 88% coupon barrier on a monthly observation date, in which case no coupon will be paid that month or on any subsequent month.
If the fund closes at or above the 88% buffer level on every day during the first year, the notes will be automatically called on Oct. 4, 2018 at par plus the contingent coupon.
If the notes are not called, the payout at maturity will be par plus the underlying return, which will be the fund return plus a 12% buffer.
Credit Suisse Securities (USA) LLC is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Autocallable buffered return equity securities
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $9,669,000
|
| Maturity: | March 4, 2022
|
| Coupon: | Only during the first year, 5.75% per year payable monthly unless the fund closes below its 88% coupon barrier on a monthly observation date, in which case no coupon will be paid that month or on any subsequent month
|
| Price: | Par
|
| Payout at maturity: | Par plus fund return plus 12%
|
| Call: | Automatically on Oct. 4, 2018 at par plus the contingent coupon if the fund closes at or above the 88% buffer level on every day during the first year
|
| Initial price: | $44.81
|
| Coupon barrier: | $39.4328, 88% of initial price
|
| Buffer level: | $39.4328, 88% of initial price
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 4
|
| Agent: | Credit Suisse Securities (USA) LLC
|
| Fees: | None
|
| Cusip: | 22550BHM8
|
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