By William Gullotti
Buffalo, N.Y., Jan. 18 – Credit Suisse AG, London Branch priced $5 million of trigger autocallable contingent yield notes due Jan. 15, 2025 linked to the performance of the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 5.1% per year if the ETF closes at or above its coupon barrier, 65% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if the ETF closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and the final level of the ETF is greater than or equal to the 65% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the ETF declines from its initial level.
UBS Financial Services Inc. is the agent.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying fund: | iShares Russell 2000 ETF
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| Amount: | $5 million
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| Maturity: | Jan. 15, 2025
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| Coupon: | 5.1% per year, paid quarterly, if the ETF closes at or above its coupon barrier on any related observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus final coupon if the ETF finishes at or above downside threshold; otherwise, 1% loss for each 1% decline from initial level
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| Call: | Automatically at par plus coupon if the ETF closes at or above initial level on any quarterly call observation date after one year
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| Initial level: | $217.61
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| Coupon barrier level: | $141.45; 65% of initial levels
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| Downside threshold: | $141.45; 65% of initial levels
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| Strike date: | Jan. 11
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
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| Agent: | UBS Financial Services Inc.
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| Fees: | 1.25%
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| Cusip: | 22552J211
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