New Issue: Credit Suisse prices $1.3 million trigger phoenix autocallables linked to indexes

By Marisa Wong

Madison, Wis., June 24 – Credit Suisse AG, London Branch priced $1.3 million of trigger phoenix autocallable notes due June 25, 2024 linked to the worst performing of the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above its coupon barrier, 75% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter. Otherwise, no coupon will be paid that quarter. The annual rate is initially 8.75% and steps up to 10.75% on June 25, 2018 and to 12.75% on June 25, 2021.

Beginning three months after issuance, the notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the decline of the worst-performing index from its initial level.

UBS Financial Services Inc. is the underwriter.

Issuer:	Credit Suisse AG, London Branch
Issue:	Trigger phoenix autocallable notes
Underlying indexes:	Euro Stoxx 50 and MSCI Emerging Markets
Amount:	$1.3 million
Maturity:	June 25, 2024
Coupon:	Payable quarterly if each index closes at or above coupon barrier level on quarterly observation date; annual rate is 8.75% initially, steps up to 10.75% on June 25, 2018 and to 12.75% on June 25, 2021
Price:	Par
Payout at maturity:	If each index finishes at or above trigger level, par plus contingent coupon; otherwise, full exposure to decline of worst-performing index from initial level
Call:	Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning three months after issuance
Initial levels:	3,302.36 for Euro Stoxx, 1,043.86 for MSCI EM
Coupon barriers:	2,476.77 for Euro Stoxx, 782.90 for MSCI EM; 75% of initial levels
Trigger levels:	1,651.18 for Euro Stoxx, 521.93 for MSCI EM; 50% of initial levels
Pricing date:	June 20
Settlement date:	June 25
Underwriter:	UBS Financial Services Inc.
Fees:	2%
Cusip:	22547T142

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