By Marisa Wong
Morgantown, W.Va., May 23 – Credit Suisse AG, London Branch priced $3 million of trigger autocallable contingent yield notes due May 22, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the lesser-performing index.
UBS Financial Services Inc. is distributor.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $4.65 million
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| Maturity: | May 22, 2020
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| Coupon: | 8.5%, payable quarterly if indexes close at or above coupon barriers on observation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to decline of lesser-performing index
|
| Call: | After six months, automatically at par if indexes close at or above initial levels on any quarterly observation date other than final one
|
| Initial index levels: | 3,587.01 for Euro Stoxx 50 and 1,367.330 for Russell 2000
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| Coupon barriers: | 2,510.91 for Euro Stoxx 50 and 957.131 for Russell 2000; 70% of initial levels
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| Downside thresholds: | 2,510.91 for Euro Stoxx 50 and 957.131 for Russell 2000; 70% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Distributor: | UBS Financial Services Inc.
|
| Fees: | 1.25%
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| Cusip: | 22549C204
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