By Tali Rackner
Norfolk, Va., Feb. 24 – Credit Suisse AG, London Branch priced $8.11 million of trigger phoenix autocallable optimization securities due Feb. 25, 2021 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 monthly coupon at an annualized rate of 9% if Apple stock closes at or above the coupon barrier level – 56.6% of the initial price – on the observation date for that month.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on any monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless Apple shares finish below the 56.5% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. is acting as distributor.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Apple Inc. (AAPL)
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| Amount: | $8,110,500
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| Maturity: | Feb. 25, 2021
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| Coupon: | 9% per year, payable monthly if each index closes at or above coupon barrier on observation date for that month
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon unless Apple shares finish below the 56.5% trigger level, in which case full exposure to any losses
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| Call: | Automatically at par if each index closes at or above initial level on any monthly observation date after one year
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| Initial level: | $96.04
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| Barrier/trigger level: | $54.26; 56.5% of initial level
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
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| Distributor: | UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 22548J614
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