By Wendy Van Sickle
Columbus, Ohio, March 2 – Credit Suisse AG, London Branch priced $10.28 million of trigger autocallable contingent yield notes due Feb. 28, 2025 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its coupon barrier level, 69.15% of its initial level, on the related quarterly observation date.
The notes will be called at par of $10 plus the coupon if the stock closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless the stock finishes below its 69.15% downside threshold level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying stock: | Apple Inc.
|
| Amount: | $10,280,700
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| Maturity: | Feb. 28, 2025
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| Coupon: | 8%, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Call: | At par plus coupon if stock closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
|
| Initial level: | $273.52
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| Downside threshold/coupon barrier: | $189.14, 69.15% of initial level
|
| Pricing date: | Feb. 27
|
| Settlement date: | Feb. 28
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| Agent: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 22550V265
|
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